Summarized unaudited quarterly financial results for Fiscal 2017 and Fiscal 2016 are presented below. See “RESULTS OF OPERATIONS,” in “ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS,” of this Annual Report on Form 10-K for information regarding items included below that could affect comparability between quarterly results.



(in thousands, except per share amounts)
Fiscal Quarter 2017	First			Second			Third		Fourth
Net sales	$	661,099		$	779,321		$	859,112	$	1,193,158
Gross profit ⁽¹⁾	$	398,925		$	460,895		$	526,627	$	697,395
Net (loss) income	$	(61,009	)	$	(14,615	)	$	10,616	$	75,533
Net (loss) income attributable to A&F ⁽²⁾	$	(61,700	)	$	(15,491	)	$	10,075	$	74,210
Net (loss) income per basic share attributable to A&F ⁽³⁾	$	(0.91	)	$	(0.23	)	$	0.15	$	1.08
Net (loss) income per diluted share attributable to A&F ⁽³⁾	$	(0.91	)	$	(0.23	)	$	0.15	$	1.05



(in thousands, except per share amounts)
Fiscal Quarter 2016	First			Second			Third		Fourth
Net sales	$	685,483		$	783,160		$	821,734	$	1,036,363
Gross profit ⁽¹⁾	$	425,721		$	477,107		$	510,739	$	615,001
Net (loss) income	$	(38,630	)	$	(12,031	)	$	8,274	$	50,105
Net (loss) income attributable to A&F ⁽⁴⁾	$	(39,587	)	$	(13,129	)	$	7,881	$	48,791
Net (loss) income per basic share attributable to A&F ⁽³⁾	$	(0.59	)	$	(0.19	)	$	0.12	$	0.72
Net (loss) income per diluted share attributable to A&F ⁽³⁾	$	(0.59	)	$	(0.19	)	$	0.12	$	0.71


⁽¹⁾	Gross profit is derived from cost of sales, exclusive of depreciation and amortization.


⁽²⁾	Net income (loss) attributable to A&F for Fiscal 2017 included certain items related to asset impairment, legal charges and discrete net tax charges related to the Act. These items adversely impacted net income (loss) attributable to A&F by $4.5 million, $10.4 million and $23.0 million for the second, third and fourth quarters of Fiscal 2017, respectively.


⁽³⁾	Net income (loss) per share for each of the quarters was computed using the weighted average number of shares outstanding during the quarter while the full year is computed using the average of the weighted average number of shares outstanding each quarter; therefore, the sum of the quarters may not equal the total for the year.

⁽⁴⁾

Net income (loss) attributable to A&F for Fiscal 2016 included certain items related to asset impairment, indemnification recoveries and claims settlement benefits. These items benefited net income (loss) attributable to A&F by $3.7 million and $6.5 million for the second and third quarters of Fiscal 2016, respectively, and adversely impacted net income (loss) attributable to A&F by $2.1 million for the fourth quarter of Fiscal 2016.