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NEW ALBANY, Ohio, Jan 11, 2021 (World NEWSWIRE through COMTEX) —
NEW ALBANY, Ohio, Jan. 11, 2021 (Globe NEWSWIRE) — Abercrombie & Fitch Co. (NYSE: ANF) these days offered an update to its fiscal fourth quarter 2020 system. The company expects:
- Net gross sales to decline in the 5% to 7% variety versus program of down 5% to down 10%, reflecting ongoing electronic momentum offset by keep closures and ability limitations in North The usa and EMEA.
- Gross gain charge to be up at least 130 foundation factors to last year’s 58.2% compared to plan of flat to up slightly, benefiting from diminished depth and breadth of promotions and markdowns relative to approach and to final 12 months.
- Operating price, excluding other operating money, to be down at minimum 2% from fiscal 2019 adjusted non-GAAP running price of $566 million, reflecting financial savings in retail outlet charges because of to closures and the recognition of hire abatements. This compares to system of up 1% to 2%.
Fran Horowitz, Chief Executive Officer, explained:
“I am happy of our quarter-to-day efficiency, such as the peak getaway advertising time period. Buyers carry on to react favorably to current product and messaging, and we assume decrease advertising depth and breadth to push gross earnings level expansion in the quarter. Our electronic profits keep on to be strong, partially offsetting ongoing keep challenges, where we have expert minimized hours of operation, capability constraints and closures in EMEA and North The united states.”
“Seeking in advance, we will continue to be centered on managing what we can, which includes tightly running inventories and expenditures. At the exact same time, we will continue to pivot to quickly address and reply to individuals external situations that are outside of our control. We are in the lucky place of coming into 2021 from a posture of model and fiscal power. We are properly navigating this unprecedented atmosphere, whilst holding the health and safety of our associates, customers and communities a leading priority, and executing on our key procedures. I am self-assured in our capability to make on modern international learnings and successes throughout our makes and glance forward to sharing supplemental details on our future fourth quarter simply call.”
Risk-free Harbor Assertion Beneath the Personal Securities Litigation Reform Act of 1995
A&F cautions that any ahead-hunting statements (as these kinds of phrase is defined in the Private Securities Litigation Reform Act of 1995) contained in this Push Launch or produced by administration or spokespeople of A&F require pitfalls and uncertainties and are subject to change primarily based on many important components, many of which may be beyond the company’s command. Words these kinds of as “estimate,” “challenge,” “approach,” “believe that,” “be expecting,” “anticipate,” “intend,” and very similar expressions may possibly identify ahead-wanting statements. Other than as may be essential by applicable regulation, we undertake no obligation to publicly update or revise any ahead-searching statements. The adhering to variables, in addition to all those disclosed in “Item 1A. Hazard Things” of A&F’s Annual Report on Form 10-K for the fiscal calendar year ended February 1, 2020, and in A&F’s subsequently submitted quarterly stories on Variety 10-Q, in some circumstances have affected, and in the foreseeable future could affect, A&F’s financial performance and could cause precise results for fiscal 2020 and over and above to differ materially from individuals expressed or implied in any of the forward-wanting statements included in this Press Launch or if not built by management: the latest outbreak of the novel coronavirus, or COVID-19, has materially adversely impacted and disrupted, and may well continue on to materially adversely impression and induce disruption to, our organization, economic performance and condition, operating final results, liquidity and money flows the unfold of the COVID-19 outbreak has caused substantial disruptions in the United States and international overall economy, the extent of the affect and period of which is not but regarded and any foreseeable future outbreak of any other hugely infectious or contagious condition could have a comparable impact alterations in worldwide financial and fiscal ailments, and the resulting impression on buyer self confidence and consumer investing, as effectively as other modifications in buyer discretionary paying out behavior could have a substance adverse impression on our enterprise failure to interact our buyers, foresee client demand and transforming manner traits, and control our inventory commensurately could have a substance adverse effects on our business enterprise our failure to run in a remarkably competitive and consistently evolving industry could have a substance adverse effect on our enterprise fluctuations in international forex exchange premiums could have a content adverse influence on our business enterprise our capability to attract clients to our retailers relies upon, in element, on the accomplishment of the browsing malls or area points of interest that our outlets are located in or close to the influence of war, acts of terrorism, mass casualty gatherings or civil unrest could have a material adverse impression on our business enterprise the effect of severe temperature, infectious ailment outbreaks, including COVID-19, and other surprising functions could final result in an interruption to our enterprise, as nicely as to the operations of our third-social gathering associates, and have a material adverse impact on our company failure to properly create an omnichannel procuring practical experience, a considerable ingredient of our advancement approach, or failure to successfully invest in shopper, electronic and omnichannel initiatives could have a product adverse impression on our organization our failure to improve our worldwide retail store network could have a substance adverse impression on our company our failure to execute our worldwide expansion method correctly and lack of ability to carry out business enterprise in worldwide marketplaces as a result of legal, tax, regulatory, political and economic risks could have a content adverse effects on our business enterprise failure to defend our track record could have a materials adverse affect on our business enterprise if our facts engineering devices are disrupted or cease to run successfully it could have a substance adverse impression on our organization we may perhaps be exposed to pitfalls and prices connected with cyber-assaults, knowledge security, credit card fraud and id theft that could have a material adverse impression on our business our reliance on our distribution centers will make us inclined to disruptions or adverse circumstances affecting our source chain variations in the price tag, availability and good quality of raw supplies, labor, transportation, and trade relations could have a materials adverse influence on our small business we rely on impartial 3rd functions for the manufacture and shipping of all our items, and a disruption of the manufacture or shipping and delivery of our merchandise could have a materials adverse affect on our business enterprise we depend on the practical experience and skills of our executive officers and associates, and the failure to bring in or keep this expertise, or successfully handle succession could have a substance adverse effect on our company fluctuations in our tax obligations and productive tax level could outcome in volatility in our final results of operations could have a substance adverse influence on our business enterprise our litigation publicity, or any securities litigation and shareholder activism, could have a material adverse effect on our company failure to sufficiently protect our trademarks could have a detrimental impact on our model image and restrict our ability to penetrate new markets which could have a content adverse influence on our small business improvements in the regulatory or compliance landscape could have a content adverse effect on our company and the agreements related to our senior secured asset-based mostly revolving credit history facility and our senior secured notes involve restrictive covenants that limit our versatility in working our organization and our lack of ability to acquire credit on reasonable terms in the foreseeable future could have an adverse effect on our company.
About Abercrombie & Fitch Co.
Abercrombie & Fitch Co. (NYSE: ANF) is a main, worldwide specialty retailer of apparel and extras for Men, Females and Young ones by 3 renowned brands. For additional than 125 yrs, the iconic Abercrombie & Fitch brand has outfitted innovators, explorers and business people. Currently, the manufacturer demonstrates the up-to-date attitude of fashionable customer, even though remaining true to its heritage of creating expertly crafted products and solutions with an easy, American style. The Hollister brand epitomizes the liberating and carefree spirit of the unlimited California summertime for the teenager current market. abercrombie youngsters produces sensible, playful apparel for small children ages 5-14, celebrating the large-eyed wonder of childhood.
The makes share a motivation to presenting products of enduring high quality and outstanding ease and comfort that let shoppers close to the entire world to convey their have individuality and design and style. The Enterprise operates roughly 760 retailers less than these brand names across North America, Europe, Asia and the Middle East, as effectively as the e-commerce web pages www.abercrombie.com and www.hollisterco.com.
|Investor Speak to:||Media Call:|
|Pamela Quintiliano||Mackenzie Gusweiler|
|Abercrombie & Fitch Co.||Abercrombie & Fitch Co.|
|(614) 283-6751||(614) 283-6192|
|[email protected]||General [email protected]|
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