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REYNOLDSBURG, Ohio, Aug. 3 /PRNewswire/ -- Abercrombie & Fitch (NYSE: ANF - news) today reported net sales of $86.2 million for the four-week period ended July 29, 2000, a 22% increase from net sales of $70.4 million for the comparable four-week period ended July 31, 1999. Comparable store sales decreased 2% in the period compared with a 16% comparable store sales increase in July 1999.
Year-to-date, the Company reported a net sales increase of 13% to $438.2 million from $387.2 million last year. Comparable stores sales decreased 7% for the year-to-date period.
Due to better than expected July performance, the Company now projects that second quarter earnings will exceed the previously announced guidance of $.16 - $.18 per share. The Company will announce second quarter earnings results on Tuesday, August 8.
A lifestyle brand, Abercrombie & Fitch operated a total of 294 stores at the end of July, including 55 abercrombie stores and one Hollister Co. store. 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 July sales message, call 1-800-642-1687 followed by the passcode 160983.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
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