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REYNOLDSBURG, Ohio, Jan. 4 /PRNewswire/ -- Abercrombie & Fitch (NYSE: ANF) today reported net sales of $244.8 million for the five-week period ended December 30, 2000, a 12% increase from net sales of $217.8 million for the comparable five-week period ended January 1, 2000. Comparable store sales decreased 11% in the period compared with a 1% comparable store sales increase in December 1999.
Year-to-date, the Company reported a net sales increase of 18% to $1.17 billion from $992.7 million last year. Comparable stores sales decreased 7% for the year-to-date period versus an increase of 11% last year.
The Company said that based on the December results it now expects earnings per share for the fourth quarter to range from $.73 to $.75 per diluted share versus last year's earnings per share of $.73.
Mike Jeffries, Chairman and Chief Executive Officer, said, "We are disappointed with our results for this year's holiday season. I believe we had a strong merchandise assortment. However, in a very promotional retail environment we were unable to generate sufficient store traffic to reach our estimates. Our brand remains strong and we will be well positioned for the start of the Spring season. However, with the retail environment very uncertain, we must be cautious in our planning and expectations for 2001. At this point we are comfortable that we can maintain last year's EPS level for the first half of 2001 and generate double digit profit growth in the third and fourth quarters."
The Company will announce January sales results on February 8, 2001.
A lifestyle brand, Abercrombie & Fitch operated a total of 350 stores at the end of December, including 82 abercrombie stores and five Hollister Co. stores. The Company also operates a kids' e-commerce website at www.abercrombiekids.com , an adult e-commerce website at www.abercrombie.com and publishes the A&F Quarterly.
To hear Abercrombie & Fitch's prerecorded December sales message, please dial (800) 642-1687, followed by the passcode 210081.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
The Company cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this Release, the Company's Form 10-K or made by management of the Company involve risks and uncertainties, and are subject to change based on various important factors. The following factors, among others, in some cases have affected and in the future could affect the Company's financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any such forward-looking statements: change in consumer spending patterns, consumer preferences and overall economic conditions, the impact of competition and pricing, changes in weather patterns, political stability, currency and exchange risks and changes in existing or potential duties, tariffs or quotas, postal rate increases and charges, paper and printing costs, availability of suitable store locations at appropriate terms, ability to develop new merchandise and ability to hire and train associates. SOURCE Abercrombie & Fitch
CONTACT: Tom Lennox, Manager of Investor Relations and Corporate Communications of Abercrombie & Fitch, 614-577-6751/