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Abercrombie & Fitch Fogs Sales Shortfall! 7/4/2001 Exclusive To The Boycott Network A&F HAS BEEN CLAIMING the boycott hasn’t hurt them a bit. In fact they’ve indicated its probably helped them. Their chairman stated in A&F’s annual report, “Even in a challenging environment, I’m pleased we improved our earnings and demonstrated our strong commitment to protecting and improving our bottom line. Our EPS (earnings per share) increased 12% and operating profit was nearly 21% of sales, one of the highest in the industry.” What the chairman failed to disclose was there were 250 stores in 1999 versus 354 stores in 2000, a 40% increase. When comparing sales on a “same store” basis sales actually fell by 7%. Even worse, sales per store (new combined with existing) showed a sales decline of 15.2%. And their quarter ending February 3, 2001? Sheesch, another disappointment! Same store sales plummeted 9% versus a 3% gain in the like period last year. That’s a negative 12% drop! But wait! There’s more! The all important net profit, computed on a per store basis, tumbled a remarkable 25%. Now that’s nothing to sneeze at! We’re sorry to disappoint you Mr. Chairman, but the boycott is having an incredible impact on your bottom line... and we’ve just begun! And if you believe A&F’s poor performance is due to economic conditions, think again! Your competition is eating your lunch! During their last fiscal year, Ann Taylor’s sales climbed 14.2%, Urban Outfitters saw a 7% increase, Hot Topic soared 52.3%, and Design Inc.’s rose 1.2%. All the above are listed as direct competitors of A&F. SPECIAL UPDATE: A&F finally confirms the above analysis! For further information, click HERE To return to the “Successes”, click HERE To go to the “Current Boycott” index, click HERE To return to the HOME page, click HERE To leave a comment, click HERE To join our confidential email list, click HERE
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If your long distance is costing more than 3.9 cents a minute and you live in one of the old “Bell Operating System” areas, you’re simply overpaying! If you are one of these individuals, click HERE to see how quick and easy it is to switch to the 3.9 cent per minute long distance rate!
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