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NEW ALBANY, Ohio, Feb 5, 2004 /PRNewswire-FirstCall via COMTEX/ -- Abercrombie & Fitch (NYSE: ANF) today reported net sales of $97.1 million for the four-week period ended January 31, 2004, a 22% increase over last year's January sales of $79.7 million. January comparable store sales increased 2% compared with the four-week period ended February 1, 2003.
For the 2003 fiscal year, the Company reported a net sales increase of 7% to $1.708 billion from $1.596 billion last year. Comparable store sales decreased 9% for the year.
The Company said that based on stronger than expected January sales results and its continued emphasis on margin improvement and expense controls, it now expects to exceed its previous EPS guidance for the fourth quarter of $0.90 to $0.93 per diluted share.
Abercrombie & Fitch operated a total of 700 stores at the end of January, including 171 abercrombie stores and 172 Hollister Co. stores. The Company operates e-commerce websites at www.abercrombie.com , www.abercrombiekids.com , and www.hollisterco.com .
To hear Abercrombie & Fitch's prerecorded January sales message, please dial (800) 642-1687, followed by the conference identification number 6755249.
On Tuesday, February 17, 2004 at 4:30 pm EST the Company will conduct its fourth quarter conference call. Management will discuss the Company's performance, its plans for the future and will accept questions from participants. To listen to the conference call, dial (800) 428-6675 or internationally at (706) 634-1917. To listen via the internet, go to www.abercrombie.com , select the Investor Relations page and click on Calendar of Events. Replays of the call will be available shortly after its completion. The audio replay can be accessed for two weeks following the reporting date by calling (800) 642-1687 or internationally at (706) 645-9291 followed by the conference ID number 6756028; or for 12 months by visiting the Company's website at www.abercrombie.com .
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 for 2003 and beyond to differ materially from those expressed or implied in any such forward-looking statements or otherwise made by management: changes in consumer spending patterns and consumer preferences; the 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; the impact of competition and pricing; changes in weather patterns; market price of key raw materials; ability to source product from its global supplier base; litigation; political stability; currency and exchange risks and changes in existing or potential duties, tariffs or quotas; availability of suitable store locations at appropriate terms; ability to develop new merchandise; and ability to hire, train and retain associates.
SOURCE Abercrombie & Fitch
Thomas D. Lennox, Director, Investor Relations and Corporate Communications of Abercrombie & Fitch, +1-614-283-6751
http://www.abercrombie.com