Exhibit 99
ABERCROMBIE & FITCH REPORTS
JULY SALES RESULTS
NEW ALBANY, Ohio / August 5, 2004 - Abercrombie & Fitch (NYSE: ANF) today
reported net sales of $143.7 million for the four-week period ended July 31,
2004, an 8% increase over last year's July sales of $133.2 million. July
comparable store sales decreased 9% compared with the four-week period ended
August 2, 2003.
Year-to-date, the Company reported a net sales increase of 16% to $813.3 million
from $702.4 million last year. Comparable store sales declined 3% for the
year-to-date period.
The Company said that based on continued margin improvement, tight inventory and
expense controls it expects second quarter EPS in the range of $0.42 to $0.44
per diluted share versus $0.35 last year.
Abercrombie & Fitch operated a total of 727 stores at the end of July, including
171 abercrombie stores and 197 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 July sales message, please dial (800)
395-0662, or internationally dial (402) 220-1262.
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For further information, call: Thomas D. Lennox
DIRECTOR, INVESTOR RELATIONS AND
CORPORATE COMMUNICATIONS
(614) 283-6751
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, A&F's Form 10-K 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 Company's 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 "RISK FACTORS" in
"ITEM 1. BUSINESS" of A&F's Annual Report on Form 10-K for the fiscal year ended
January 31, 2004, in some cases have affected and in the future could affect the
Company's financial performance and could cause actual results for the 2004
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: 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; postal rate increases and
changes; paper and printing costs; market price of key raw materials; ability to
source product from its global supplier base; 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.
Future economic and industry trends that could potentially impact revenue and
profitability are difficult to predict. Therefore, there can be no assurance
that the forward-looking statements included in this Press Release will prove to
be accurate. In light of the significant uncertainties in the forward-looking
statements included herein, the inclusion of such information should not be
regarded as a representation by the Company, or any other person, that the
objectives of the Company will be achieved. The forward-looking statements
herein are based on information presently available to the management of the
Company. Except as may be required by applicable law, the Company assumes no
obligation to publicly update or revise its forward-looking statements even if
experience or future changes make it clear that any projected results expressed
or implied therein will not be realized.