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8-K - FORM 8-K - ABERCROMBIE & FITCH CO /DE/ | c03234e8vk.htm |
EX-99.2 - EXHIBIT 99.2 - ABERCROMBIE & FITCH CO /DE/ | c03234exv99w2.htm |
Exhibit 99.1
ABERCROMBIE & FITCH REPORTS
JUNE SALES RESULTS
New Albany, Ohio, July 8, 2010: Abercrombie & Fitch (NYSE: ANF) today reported net sales of $277.3
million for the five-week period ended July 3, 2010, a 23% increase from net sales of $225.9
million for the five-week period ended July 4, 2009. June comparable store sales increased 9%.
For the fiscal month, total Company direct-to-consumer net merchandise sales increased 62% to $26.1
million. For the fiscal month, total Company international net sales, including direct-to-consumer
net sales, increased 88% to $49.4 million.
Year-to-date, the Company reported net sales of $1.163 billion, a 15% increase from net sales of
$1.007 billion last year. Comparable store sales increased 3% for the year-to-date period. Year-
to-date, total Company direct-to-consumer net merchandise sales increased 44% to $114.1 million.
Year-to-date, total Company international net sales, including direct-to-consumer net sales,
increased 95% to $205.2 million.
Additional information regarding sales for fiscal June can be found in a pre-recorded message
accessible by dialing (800) 395-0662, or, internationally, by dialing (402) 220-1262.
June 2010 Highlights
| Total Company net sales, including direct-to-consumer net sales, increased 23% |
| Total Company domestic net sales, including direct-to-consumer net sales, increased 14% |
| Total Company international net sales, including direct-to-consumer net sales, increased 88% |
| Total Company comparable store sales increased 9% |
| Total Company direct-to-consumer net merchandise sales increased 62% |
| Abercrombie & Fitch comparable store sales increased 10% |
| abercrombie kids comparable store sales increased 14% |
| Hollister Co. comparable store sales increased 7% |
At fiscal month end, the Company operated a total of 1,095 stores. The Company operated 339
Abercrombie & Fitch stores, 202 abercrombie kids stores, 507 Hollister Co. stores and 16 Gilly
Hicks stores in the United States. The Company also operated six Abercrombie & Fitch stores, four
abercrombie kids stores and 21 Hollister Co. stores internationally. The Company also operates
e-commerce websites at www.abercrombie.com, www.abercrombiekids.com, www.hollisterco.com and
www.gillyhicks.com.
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For further information, call:
|
Eric Cerny Manager, Investor Relations (614) 283-6385 |
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
A&F cautions that any forward-looking statements (as such term is defined in the Private Securities
Litigation Reform Act of 1995) contained in this Press Release or made by management of A&F involve
risks and uncertainties and are subject to change based on various important factors, many of which
may be beyond the Companys control. Words such as estimate, project, plan, believe,
expect, anticipate, intend, and similar expressions may identify forward-looking statements.
The following factors, in addition to those included in the disclosure under the heading
FORWARD-LOOKING STATEMENTS AND RISK FACTORS in ITEM 1A. RISK FACTORS of A&Fs Annual Report on
Form 10-K for the fiscal year ended January 30, 2010, in some cases have affected and in the future
could affect the Companys financial performance and could cause actual results for the 2010 fiscal
year and beyond to differ materially from those expressed or implied in any of the forward-looking
statements included in this Press Release or otherwise made by management: general economic and
financial conditions could have a material adverse effect on the Companys business, results of
operations and liquidity; loss of the services of skilled senior executive officers could have a
material adverse effect on the Companys business; ability to hire, train and retain qualified
associates could have a material adverse effect on the Companys business; equity-based
compensation awarded under the employment agreement with the Companys Chief Executive Officer
could adversely impact the Companys cash flows, financial position or results of operations and
could have a dilutive effect on the Companys outstanding Common Stock; failure to anticipate,
identify and respond to changing consumer preferences and fashion trends in a timely manner could
cause the Companys profitability to decline; unseasonable weather conditions affecting consumer
preferences could have a material adverse effect on the Companys business; disruptive weather
conditions affecting the consumers ability to shop could have a material adverse effect on the
Companys business; the Companys market share may be adversely impacted at any time by a
significant number of competitors; the Companys international expansion plan is dependent on many
factors, any of which could delay or prevent successful penetration into new markets and strain its
resources; the Companys growth strategy relies on the addition of new stores, which may strain the
Companys resources and adversely impact current store performance; the Company may incur costs
related to store closures; availability and market prices of key raw materials could have a
material adverse effect on the Companys business and results of operations; the interruption of
the flow of merchandise from key vendors and international manufacturers could disrupt the
Companys supply chain; the Company does not own or operate any manufacturing facilities and
therefore depends upon independent third parties for the manufacture of all its merchandise; the
Companys reliance on two distribution centers domestically located in the same vicinity, and one
distribution center internationally, makes it susceptible to disruptions or adverse conditions
affecting its distribution centers; the Companys reliance on third parties to deliver merchandise
from its distribution centers to its stores and direct-to-consumer customers could result in
disruptions to its business; the Companys development of new brand concepts could have a material
adverse effect on the Companys financial condition or results of operations; fluctuations in
foreign currency exchange rates could adversely impact financial results; the Companys net sales
and inventory levels fluctuate on a seasonal basis, causing its results of operations to be
particularly susceptible to changes to back-to-school and holiday shopping patterns; the Companys
ability to attract customers to its stores depends heavily on the success of the shopping centers
in which they are located; comparable store sales will continue to fluctuate on a regular basis;
the Companys net sales are affected by direct-to-consumer sales; the Company may be exposed to
risks and costs associated with credit card fraud and identity theft; the Companys litigation
exposure could exceed expectations, having a material adverse effect on the Companys financial
condition or results of operations; the Companys failure to adequately protect its trademarks
could have a negative impact on its brand image and limit its ability to penetrate new markets; the
Companys unsecured credit agreement includes financial and other covenants that impose
restrictions on its financial and business operations; changes in taxation requirements could
adversely impact financial results; the Companys inability to obtain commercial insurance at
acceptable prices or failure to adequately reserve for self-insured exposures might increase
expense and adversely impact financial results; modifications and/or upgrades to information
technology systems may disrupt operations; the Company could suffer if the Companys computer
systems are disrupted or cease to operate effectively; effects of political and economic events and
conditions domestically, and in foreign jurisdictions in which the Company operates, including, but
not limited to, acts of terrorism or war could have a material adverse effect on the Companys
business; potential disruption of the Companys business due to the occurrence of, or fear of, a
health pandemic could have a material adverse effect on the Companys business; changes in the
regulatory or compliance landscape could adversely effect the Companys business or results of
operations; and the Companys operations may be effected by greenhouse emissions and climate
change.
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