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8-K - FORM 8-K - ABERCROMBIE & FITCH CO /DE/ | c09212e8vk.htm |
EX-99.2 - EXHIBIT 99.2 - ABERCROMBIE & FITCH CO /DE/ | c09212exv99w2.htm |
Exhibit 99.1
ABERCROMBIE & FITCH REPORTS
NOVEMBER SALES RESULTS
New Albany, Ohio, December 2, 2010: Abercrombie & Fitch (NYSE: ANF) today reported net sales of
$318.9 million for the four-week period ended November 27, 2010, a 32% increase from net sales of
$241.2 million for the four-week period ended November 28, 2009. November comparable store sales
increased 22%. For the fiscal month, total Company direct-to-consumer net merchandise sales
increased 40% to $32.6 million. For the fiscal month, total Company international net sales,
including direct-to-consumer net sales, increased 73% to $64.2 million.
Year-to-date, the Company reported net sales of $2.638 billion, an 18% increase from net sales of
$2.234 billion last year. Comparable store sales increased 7% for the year-to-date period.
Year-to-date, total Company direct-to-consumer net merchandise sales increased 40% to $251.7
million. Year-to-date, total Company international net sales, including direct-to-consumer net
sales, increased 88% to $480.5 million.
Additional information regarding sales for fiscal November can be found in a pre-recorded message
accessible for two weeks from today, by dialing (800) 395-0662 or, internationally, by dialing
(402) 220-1262.
November 2010 Highlights
| Total Company net sales, including direct-to-consumer net sales, increased 32% | ||
| Total Company domestic net sales, including direct-to-consumer net sales, increased 25% | ||
| Total Company international net sales, including direct-to-consumer net sales, increased 73% | ||
| Total Company comparable store sales increased 22% | ||
| Total Company direct-to-consumer net merchandise sales increased 40% | ||
| Abercrombie & Fitch comparable store sales increased 23% | ||
| abercrombie kids comparable store sales increased 19% | ||
| Hollister Co. comparable store sales increased 22% |
Other Developments
At fiscal month end, the Company operated a total of 1,112 stores. The Company operated 340
Abercrombie & Fitch stores, 202 abercrombie kids stores, 511 Hollister Co. stores and 17 Gilly
Hicks stores in the United States. The Company also operated nine Abercrombie & Fitch stores, four
abercrombie kids stores, 28 Hollister Co. stores and one Gilly Hicks store internationally. The
Company also operates e-commerce websites at www.abercrombie.com, www.abercrombiekids.com,
www.hollisterco.com and www.gillyhicks.com.
For further information, call:
Eric Cerny
Manager, Investor Relations
(614) 283-6385
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 and labor costs
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 affect the Companys business or results of
operations; and the Companys operations may be effected by greenhouse emissions and climate
change.