|Abercrombie & Fitch Enters Into New Employment Agreement with Michael S. Jeffries, Chairman and CEO|
|NEW ALBANY, Ohio, Dec 22, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Abercrombie & Fitch
Co. (NYSE: ANF) today announced that it had entered into a new employment
agreement with Michael S. Jeffries, the Company's chairman and chief executive
officer. Mr. Jeffries' prior employment agreement was scheduled to expire on
December 31, 2008. The new employment agreement, which is being filed with the
Securities and Exchange Commission today as an exhibit to a Form 8-K, is
scheduled to expire on February 1, 2014.
About Abercrombie & Fitch
The Company operated 353 Abercrombie & Fitch stores, 211 abercrombie stores, 501 Hollister Co. stores, 27 RUEHL stores and 13 Gilly Hicks stores in the United States at the end of fiscal November. The Company operates three Abercrombie & Fitch stores, two abercrombie stores, five Hollister Co. stores in Canada, and one Abercrombie & Fitch store and one Hollister Co. store in London, England. The Company operates e-commerce websites at http://www.abercrombie.com, http://www.abercrombiekids.com, and http://www.hollisterco.com and http://www.RUEHL.com.
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 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 "FORWARD-LOOKING STATEMENTS AND RISK FACTORS" in "ITEM 1A. RISK FACTORS" of A&F's Annual Report on Form 10-K for the fiscal year ended February 2, 2008, in some cases have affected and in the future could affect the Company's financial performance and could cause actual results for the 2008 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; ability to hire, train and retain associates; and the outcome of pending litigation. 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.
SOURCE Abercrombie & Fitch Co.