EX-99.2 3 q42018quarterlyhistory.htm EXHIBIT 99.2 Exhibit


Abercrombie & Fitch Co.
Financial Information
(Unaudited)
(in thousands, except per share data and store data)
 
 
 
 
 
 
 
 
Fiscal 2017 (1)
 
 
 
Fiscal 2018
 
 
 
2014
 
2015
 
2016
 
Q1
 
Q2
 
Q3
 
Q4
 
2017
 
Q1
 
Q2
 
Q3
 
Q4
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
$
3,744,030

 
$
3,518,680

 
$
3,326,740

 
$
661,099

 
$
779,321

 
$
859,112

 
$
1,193,158

 
$
3,492,690

 
$
730,899

 
$
842,414

 
$
861,194

 
$
1,155,602

 
$
3,590,109

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Cost of sales, exclusive of depreciation and amortization
1,430,460

 
1,361,137

 
1,298,172

 
262,174

 
318,426

 
332,485

 
495,763

 
1,408,848

 
288,554

 
335,519

 
333,375

 
472,745

 
1,430,193

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Gross profit
2,313,570

 
2,157,543

 
2,028,568

 
398,925

 
460,895

 
526,627

 
697,395

 
2,083,842

 
442,345

 
506,895

 
527,819

 
682,857

 
2,159,916

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Stores and distribution expense
1,703,051

 
1,604,214

 
1,578,460

 
359,929

 
369,295

 
375,944

 
437,257

 
1,542,425

 
361,155

 
374,552

 
371,859

 
434,456

 
1,542,022

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Marketing, general and administrative expense
458,820

 
470,321

 
453,202

 
109,893

 
109,353

 
124,533

 
128,135

 
471,914

 
124,897

 
123,883

 
117,181

 
118,902

 
484,863

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Restructuring charge (benefit)
8,431

 
(1,598
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Asset impairment
44,988

 
18,209

 
7,930

 
730

 
6,135

 
3,480

 
4,046

 
14,391

 
1,056

 
8,671

 
656

 
1,197

 
11,580

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Other operating income, net
(15,239
)
 
(6,441
)
 
(26,212
)
 
(1,686
)
 
(2,799
)
 
(70
)
 
(12,383
)
 
(16,938
)
 
(2,560
)
 
(434
)
 
(1,557
)
 
(1,364
)
 
(5,915
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Operating income (loss)
113,519

 
72,838

 
15,188

 
(69,941
)
 
(21,089
)
 
22,740

 
140,340

 
72,050

 
(42,203
)
 
223

 
39,680

 
129,666

 
127,366

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Interest expense, net
14,365

 
18,248

 
18,666

 
4,120

 
4,089

 
4,571

 
4,109

 
16,889

 
3,018

 
3,023

 
2,857

 
2,101

 
10,999

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Income (loss) before income taxes
99,154

 
54,590

 
(3,478
)
 
(74,061
)
 
(25,178
)
 
18,169

 
136,231

 
55,161

 
(45,221
)
 
(2,800
)
 
36,823

 
127,565

 
116,367

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Income tax expense (benefit)
47,333

 
16,031

 
(11,196
)
 
(13,052
)
 
(10,563
)
 
7,553

 
60,698

 
44,636

 
(3,713
)
 
24

 
12,047

 
29,201

 
37,559

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Net income (loss)
51,821

 
38,559

 
7,718

 
(61,009
)
 
(14,615
)
 
10,616

 
75,533

 
10,525

 
(41,508
)
 
(2,824
)
 
24,776

 
98,364

 
78,808

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Less: Net income attributable to noncontrolling interests
—

 
2,983

 
3,762

 
691

 
876

 
541

 
1,323

 
3,431

 
953

 
1,029

 
857

 
1,428

 
4,267

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Net income (loss) attributable to Abercrombie & Fitch Co.
$
51,821

 
$
35,576

 
$
3,956

 
$
(61,700
)
 
$
(15,491
)
 
$
10,075

 
$
74,210

 
$
7,094

 
$
(42,461
)
 
$
(3,853
)
 
$
23,919

 
$
96,936

 
$
74,541


1


 
 
 
 
 
 
 
Fiscal 2017 (1)
 
 
 
Fiscal 2018
 
 
 
2014
 
2015
 
2016
 
Q1
 
Q2
 
Q3
 
Q4
 
2017
 
Q1
 
Q2
 
Q3
 
Q4
 
2018
Net income (loss) per share attributable to Abercrombie & Fitch Co.:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Basic
$
0.72

 
$
0.52

 
$
0.06

 
$
(0.91
)
 
$
(0.23
)
 
$
0.15

 
$
1.08

 
$
0.10

 
$
(0.62
)
 
$
(0.06
)
 
$
0.36

 
$
1.47

 
$
1.11

 Diluted
$
0.71

 
$
0.51

 
$
0.06

 
$
(0.91
)
 
$
(0.23
)
 
$
0.15

 
$
1.05

 
$
0.10

 
$
(0.62
)
 
$
(0.06
)
 
$
0.35

 
$
1.42

 
$
1.08

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average shares outstanding:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Basic
71,785

 
68,880

 
67,878

 
68,073

 
68,456

 
68,512

 
68,523

 
68,391

 
68,500

 
68,008

 
66,818

 
66,074

 
67,350

 Diluted
72,937

 
69,417

 
68,284

 
68,073

 
68,456

 
69,425

 
70,357

 
69,403

 
68,500

 
68,008

 
68,308

 
68,071

 
69,137

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hollister comparable sales
(10
)%
 
0
 %
 
0
 %
 
3
 %
 
5
 %
 
8
 %
 
11
%
 
8
 %
 
6
%
 
4
%
 
4
%
 
6
 %
 
5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Abercrombie comparable sales (2)
(5
)%
 
(6
)%
 
(11
)%
 
(10
)%
 
(7
)%
 
(2
)%
 
5
%
 
(2
)%
 
3
%
 
2
%
 
1
%
 
(2
)%
 
1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total company comparable sales (3)
(8
)%
 
(3
)%
 
(5
)%
 
(3
)%
 
(1
)%
 
4
 %
 
9
%
 
3
 %
 
5
%
 
3
%
 
3
%
 
3
 %
 
3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares outstanding
69,352

 
67,348

 
67,758

 
68,012

 
68,092

 
68,116

 
68,195

 
68,195

 
67,816

 
66,975

 
65,843

 
66,227

 
66,227

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of stores - end of period (4)
969

 
932

 
898

 
893

 
891

 
889

 
868

 
868

 
869

 
870

 
879

 
861

 
861

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Gross square feet - end of period
7,517

 
7,292

 
7,007

 
6,939

 
6,908

 
6,880

 
6,710

 
6,710

 
6,710

 
6,694

 
6,719

 
6,566

 
6,566

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Fiscal 2017 was a fifty-three week year.
(2) Abercrombie includes the Company's Abercrombie & Fitch and abercrombie kids brands.
(3) Comparable sales are calculated on a constant currency basis and exclude revenue other than store and online sales. Due to the 53rd week in fiscal 2017, fourth quarter of fiscal 2017 comparable sales are compared to the fourteen week period ended February 4, 2017, first quarter of fiscal 2018 comparable sales are compared to the thirteen week period ended May 6, 2017, second quarter of fiscal 2018 comparable sales are compared to the thirteen week period ended August 5, 2017, third quarter of fiscal 2018 comparable sales are compared to the thirteen week period ended November 4, 2017, and fourth quarter of fiscal 2018 comparable sales are compared to the 13 week period ended February 3, 2018.
(4) Prior period store counts have been restated to count multi-brand outlet stores as a single store.

2