EX-99.2 3 q42012quarterlyhistory.htm EXHIBIT 99.2 Q4 2012 Quarterly History


Abercrombie & Fitch Co.
Restated Financial Information
(Unaudited)
(in thousands, except per share data and store data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal 2011
 
Fiscal 2012
 
 
2008 (1)

 
2009 (1)

 
2010
 
Q1
Q2
Q3
Q4
YTD
 
Q1
Q2
Q3
Q4
YTD
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Sales
 
$
3,484,058

 
$
2,928,626

 
$
3,468,777

 
$
836,674

$
916,763

$
1,075,856

$
1,328,766

$
4,158,058

 
$
921,218

$
951,407

$
1,169,649

$
1,468,531

$
4,510,805

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of Goods Sold (2)
 
1,152,963

 
1,045,028

 
1,251,348

 
311,138

338,298

419,602

538,796

1,607,834

 
380,126

358,956

417,135

537,879

1,694,096

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Profit (2)
 
2,331,095

 
1,883,598

 
2,217,429

 
525,536

578,465

656,254

789,970

2,550,224

 
541,092

592,451

752,514

930,652

2,816,709

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Stores and Distribution Expense
 
1,436,363

 
1,425,950

 
1,589,501

 
399,101

425,325

461,683

602,140

1,888,248

 
455,732

458,085

496,942

577,167

1,987,926

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Marketing, General and Administrative Expense
 
405,248

 
353,269

 
400,804

 
107,651

109,999

107,844

111,627

437,120

 
116,889

111,293

123,381

122,321

473,883

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Operating (Income) Expense, Net
 
(8,778
)
 
(13,533
)
 
(10,056
)
 
(1,836
)
544

(2,855
)
7,619

3,472

 
(2,584
)
(1,933
)
(1,154
)
(13,663
)
(19,333
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Income (2)
 
498,262

 
117,912

 
237,180

 
20,620

42,597

89,582

68,584

221,384

 
(28,945
)
25,006

133,345

244,827

374,233

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest (Income) Expense, Net
 
(11,382
)
 
(1,598
)
 
3,362

 
950

985

533

1,108

3,577

 
1,089

1,546

1,584

3,069

7,288

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from Continuing Operations Before Taxes
 
509,644

 
119,510

 
233,818

 
19,670

41,612

89,049

67,476

217,807

 
(30,034
)
23,460

131,761

241,758

366,945

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tax Expense for Continuing Operations (2)
 
201,475

 
40,557

 
78,109

 
7,468

13,493

32,057

21,651

74,669

 
(8,729
)
6,409

47,725

84,529

129,934

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income from Continuing Operations (2)
 
308,169

 
78,953

 
155,709

 
12,202

28,119

56,992

45,825

143,138

 
(21,305
)
17,051

84,036

157,229

237,011

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) from Discontinued Operations (Net of Taxes)
 
(35,914
)
 
(78,699
)
 
—

 
796

—

—

—

796

 
—

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (2)
 
272,255

 
254

 
155,709

 
12,998

28,119

56,992

45,825

143,934

 
(21,305
)
17,051

84,036

157,229

237,011

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income Per Share from Continuing Operations: (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Basic
 
$
3.55

 
$
0.90

 
$
1.77

 
$
0.14

$
0.32

$
0.66

$
0.53

$
1.65

 
$
(0.25
)
$
0.21

$
1.03

$
1.99

$
2.89

 Diluted
 
$
3.45

 
$
0.89

 
$
1.73

 
$
0.13

$
0.31

$
0.64

$
0.52

$
1.60

 
$
(0.25
)
$
0.20

$
1.02

$
1.95

$
2.85

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




Net (Loss) Income Per Share from Discontinued Operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Basic
 
$
(0.41
)
 
$
(0.90
)
 
$
—

 
$
0.01

$
—

$
—

$
—

$
0.01

 
$
—

$
—

$
—

$
—

$
—

 Diluted
 
$
(0.40
)
 
$
(0.89
)
 
$
—

 
$
0.01

$
—

$
—

$
—

$
0.01

 
$
—

$
—

$
—

$
—

$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income Per Share: (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Basic
 
$
3.14

 
$
—

 
$
1.77

 
$
0.15

$
0.32

$
0.66

$
0.53

$
1.66

 
$
(0.25
)
$
0.21

$
1.03

$
1.99

$
2.89

 Diluted
 
$
3.05

 
$
—

 
$
1.73

 
$
0.14

$
0.31

$
0.64

$
0.52

$
1.61

 
$
(0.25
)
$
0.20

$
1.02

$
1.95

$
2.85

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-Average Shares Outstanding:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Basic
 
86,816
 
87,874
 
88,061
 
87,282
87,267
86,962
85,881
86,848
 
84,593
82,555
81,669
78,944
81,940
 Diluted
 
89,291
 
88,609
 
89,851
 
90,441
90,353
89,707
87,648
89,537
 
86,184
83,441
82,522
80,554
83,175
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable Sales (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
1
 %
(6
)%
0
 %
(1
)%
(1
)%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable Store Sales
 
(13
)%
 
(23
)%
 
7
%
 
10
%
9
%
7
%
0
%
5
%
 
(5
)%
(10
)%
(3
)%
(4
)%
(5
)%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Actual Shares Outstanding
 
87,055
 
87,985
 
87,246
 
87,377
86,966
87,158
85,638
85,638
 
82,542
82,567
79,557
78,445
78,445

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of Stores - End of Period
 
1,097
 
1,096
 
1,069
 
1,071
1,073
1,092
1,045
1,045
 
1,049
1,055
1,067
1,051
1,051

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Gross Square Feet - End of Period
 
7,760
 
7,848
 
7,756
 
7,738
7,801
7,967
7,778
7,778
 
7,840
7,900
8,041
7,958
7,958


(1) Reported results for periods prior to Fiscal 2010 have not been restated to reflect the change in accounting principle. The change is not determinable because the information necessary to determine the weighted-average cost using the cost method prior to that year is not available.

(2) For Fiscal 2010, 2011 and 2012 along with the quarterly periods during Fiscal 2011 and Fiscal 2012 (through Q3), the reported amounts have been restated to reflect reporting under the cost method.

(3) Beginning with the fourth quarter of 2012, the Company is reporting comparable sales including both stores and direct to consumer. The Company has provided comparable sales beginning with the first quarter of 2012.