Swiss Army Brands Comments on First Quarter Sales, Earnings

Apr 27, 2001, 01:00 ET from Swiss Army Brands, Inc.

    SHELTON, Conn., April 27 /PRNewswire/ --
 Swiss Army Brands, Inc. (Nasdaq: SABI) today announced that, due to slower
 than anticipated retail sales and special charges, first quarter results will
 be down from the first quarter of last year.  The company expects to report a
 net loss in the range of $0.25 to $0.29 per share, including special charges
 of $0.08 per share.  The company reported a net loss of $0.07 per share in the
 comparable quarter of 2000, prior to investment gains.
     Jeff Turner, president of Swiss Army Brands, said, "We were not exempt
 from the retail industry's first quarter performance disappointments --
 declining sales activity related largely to the economic slowdown and consumer
 caution.  Our sales were also adversely affected by the timing of large orders
 from certain key customers, a timing issue that we are confident will remedy
 itself as the year progresses.  The $0.08 one-time charge reflects recent
 senior management realignments and asset write-downs.
     The company has made a significant commitment to the recent Victorinox(R)
 Apparel launch and is focused on the redesign of the watch business, the
 largest component of our product mix.  We are optimistic that the sales
 strategy and product introductions under the direction of the new watch
 management team will positively impact our second-half performance."
     The company plans to release its final figures for the quarter in the week
 of May 7.
 
     Swiss Army Brands, Inc. is the exclusive United States, Canadian, and
 Caribbean marketers of Victorinox(R) Original Swiss Army Knives(TM),
 multi-tools and SwissCards(TM).  In addition to its line of Swiss Army
 Brand(R) Watches, Sunglasses and Writing Instruments, the Company also markets
 Bear MGC(TM) knives and multi-tools as well as cutlery under the R. H.
 Forschner(R) brand.  The Company sublicenses the famous Victorinox Crest and
 the Victorinox trademark to selected quality manufacturers for Victorinox(R)
 Travel Gear and Victorinox(R) Apparel.  The Company web site is located at
 http://www.swissarmy.com.
 
     Safe Harbor Statements under the Private Securities Litigation Reform Act
     of 1995
     This release contains, in addition to historical information,
 forward-looking statements about expected losses in the first quarter, the
 timing of large orders from certain key customers, and improved performance in
 the second half related to sales strategy and new product introductions.  The
 forward-looking statements were prepared on the basis of certain assumptions
 which relate to new management, increased advertising, timely delivery of new
 products, customer demand for new watch introductions, and decisions by key
 customers.  Even if the assumptions upon which the projections are based prove
 to be accurate and appropriate, the actual results of the company's operations
 may vary widely due to increased competition, changes in consumer tastes, the
 impact of generally adverse economic conditions, other factors described in
 the company's SEC filings, and other factors not yet known or anticipated.
 Accordingly, the actual results of the company's operations in the future may
 vary widely from the forward-looking statements included herein.
 
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SOURCE Swiss Army Brands, Inc.
    SHELTON, Conn., April 27 /PRNewswire/ --
 Swiss Army Brands, Inc. (Nasdaq: SABI) today announced that, due to slower
 than anticipated retail sales and special charges, first quarter results will
 be down from the first quarter of last year.  The company expects to report a
 net loss in the range of $0.25 to $0.29 per share, including special charges
 of $0.08 per share.  The company reported a net loss of $0.07 per share in the
 comparable quarter of 2000, prior to investment gains.
     Jeff Turner, president of Swiss Army Brands, said, "We were not exempt
 from the retail industry's first quarter performance disappointments --
 declining sales activity related largely to the economic slowdown and consumer
 caution.  Our sales were also adversely affected by the timing of large orders
 from certain key customers, a timing issue that we are confident will remedy
 itself as the year progresses.  The $0.08 one-time charge reflects recent
 senior management realignments and asset write-downs.
     The company has made a significant commitment to the recent Victorinox(R)
 Apparel launch and is focused on the redesign of the watch business, the
 largest component of our product mix.  We are optimistic that the sales
 strategy and product introductions under the direction of the new watch
 management team will positively impact our second-half performance."
     The company plans to release its final figures for the quarter in the week
 of May 7.
 
     Swiss Army Brands, Inc. is the exclusive United States, Canadian, and
 Caribbean marketers of Victorinox(R) Original Swiss Army Knives(TM),
 multi-tools and SwissCards(TM).  In addition to its line of Swiss Army
 Brand(R) Watches, Sunglasses and Writing Instruments, the Company also markets
 Bear MGC(TM) knives and multi-tools as well as cutlery under the R. H.
 Forschner(R) brand.  The Company sublicenses the famous Victorinox Crest and
 the Victorinox trademark to selected quality manufacturers for Victorinox(R)
 Travel Gear and Victorinox(R) Apparel.  The Company web site is located at
 http://www.swissarmy.com.
 
     Safe Harbor Statements under the Private Securities Litigation Reform Act
     of 1995
     This release contains, in addition to historical information,
 forward-looking statements about expected losses in the first quarter, the
 timing of large orders from certain key customers, and improved performance in
 the second half related to sales strategy and new product introductions.  The
 forward-looking statements were prepared on the basis of certain assumptions
 which relate to new management, increased advertising, timely delivery of new
 products, customer demand for new watch introductions, and decisions by key
 customers.  Even if the assumptions upon which the projections are based prove
 to be accurate and appropriate, the actual results of the company's operations
 may vary widely due to increased competition, changes in consumer tastes, the
 impact of generally adverse economic conditions, other factors described in
 the company's SEC filings, and other factors not yet known or anticipated.
 Accordingly, the actual results of the company's operations in the future may
 vary widely from the forward-looking statements included herein.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X32884286
 
 SOURCE  Swiss Army Brands, Inc.