HOLLYWOOD, Calif., Oct. 4,
2012 /PRNewswire/ -- Frederick's of Hollywood Group Inc. (NYSE MKT:
FOH) ("Company") announced today that its comparable store sales
for the five weeks ended September 29,
2012 decreased 17.3% compared to the five weeks ended
October 1, 2011. The Company
also announced a comparable store sales decrease of 16.4% for the
nine weeks ended September 29, 2012,
compared to the nine weeks ended October 1,
2011.
"We continue to work towards a strategy focused less on
promotional and discount sales, but due to the unprecedented
promotional retail environment that exists today, we must
participate in value pricing to remain competitive. Our
strategy to move away from a highly promotional business model will
take time. While business continues to be softer than
anticipated, we continue to work towards achieving profitable sales
with a more efficient balance among inventory, promotional sales,
gross margins and overhead costs. We are confident that this
long-term strategy, over time, will improve our financial
performance, strengthen our brand and position us for growth,"
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.