HOLLYWOOD, Calif., Aug. 2, 2012 /PRNewswire/ -- Frederick's of
Hollywood Group Inc. (NYSE MKT: FOH) ("Company") announced today
that its comparable store sales for the four weeks ended
July 28, 2012 decreased 18.6%
compared to the four weeks ended July 30,
2011. The Company also announced a comparable store sales
increase of 0.5% for the 52 weeks ended July
28, 2012, compared to the 52 weeks ended July 30, 2011.
"As expected, we had significantly less clearance inventory this
July as a result of our restructured merchandise process and
improved inventory management system. This, together with our
focus on achieving more profitable sales, led to lower comparable
store sales in July. While the decline was higher than
anticipated due to the added impact of the general slowing in the
retail industry, we were still able to improve profit margins and
are pleased with our inventory position as we end our fiscal year,"
stated Thomas Lynch, the Company's
Chairman and Chief Executive Officer.
Forward Looking Statement
Certain of the matters set forth in this press release are
forward-looking and involve a number of risks and
uncertainties. These statements are based on management's
current expectations or beliefs. Actual results may vary
materially from those expressed or implied by the statements
herein. Among the factors that could cause actual results to
differ materially are the following: competition; business
conditions and industry growth; rapidly changing consumer
preferences and trends; general economic conditions; working
capital needs; continued compliance with government regulations;
loss of key personnel; labor practices; product development;
management of growth, increases in costs of operations or inability
to meet efficiency or cost reduction objectives; timing of orders
and deliveries of products; risks of doing business abroad; the
ability to protect our intellectual property; and the other risks
that are described from time to time in the Company's SEC
reports. The Company is under no obligation to, and expressly
disclaims any obligation to, update or alter its forward-looking
statements, whether as a result of new information, future events,
changes in assumptions or otherwise.
About Frederick's of Hollywood Group Inc.
Frederick's of Hollywood Group Inc., through its
subsidiaries, sells women's intimate apparel and related products
under its proprietary Frederick's of Hollywood® brand through 118
specialty retail stores, a catalog and an online shop at
http://www.fredericks.com/. With its exclusive product
offerings including Seduction by Frederick's of Hollywood and the Hollywood Exxtreme
Cleavage® bra, Frederick's of Hollywood is the Original Sex
Symbol®.
Our press releases and financial reports can be accessed on our
corporate website at http://www.fohgroup.com.
This release is available on the KCSA Strategic Communications
Web site at http://www.kcsa.com.
CONTACT:
Frederick's of Hollywood Group
Inc.
Thomas Rende,
CFO
(212) 779-8300
Investor Contacts:
Todd Fromer / Garth Russell
KCSA Strategic Communications
212-896-1215 / 212-896-1250
tfromer@kcsa.com / grussell@kcsa.com
SOURCE Frederick's of Hollywood Group Inc.