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 Communications212-896-1215 / 212-896-1250 firstname.lastname@example.org / email@example.com SOURCE Frederick's of Hollywood Group Inc.
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