EX-99.2 3 q12019quarterlyhistory.htm EXHIBIT 99.2 Exhibit


Abercrombie & Fitch Co.
Financial Information
(Unaudited)
(in thousands, except per share data and store data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal 2018
 
 
 
Fiscal 2019
 
2015
 
2016
 
2017
 
Q1
 
Q2
 
Q3
 
Q4
 
2018
 
Q1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
$
3,518,680

 
$
3,326,740

 
$
3,492,690

 
$
730,899

 
$
842,414

 
$
861,194

 
$
1,155,602

 
$
3,590,109

 
$
733,972

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales, exclusive of depreciation and amortization
1,361,137

 
1,298,172

 
1,408,848

 
288,554

 
335,519

 
333,375

 
472,745

 
1,430,193

 
289,882

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit
2,157,543

 
2,028,568

 
2,083,842

 
442,345

 
506,895

 
527,819

 
682,857

 
2,159,916

 
444,090

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stores and distribution expense
1,604,214

 
1,578,460

 
1,542,425

 
361,155

 
374,552

 
371,859

 
434,456

 
1,542,022

 
358,356

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Marketing, general and administrative expense
470,321

 
453,202

 
471,914

 
124,897

 
123,883

 
117,181

 
118,902

 
484,863

 
111,947

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charge (benefit)
(1,598
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset impairment
18,209

 
7,930

 
14,391

 
1,056

 
8,671

 
656

 
1,197

 
11,580

 
1,662

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other operating income, net
(6,441
)
 
(26,212
)
 
(16,938
)
 
(2,560
)
 
(434
)
 
(1,557
)
 
(1,364
)
 
(5,915
)
 
(617
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating income (loss)
72,838

 
15,188

 
72,050

 
(42,203
)
 
223

 
39,680

 
129,666

 
127,366

 
(27,258
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
18,248

 
18,666

 
16,889

 
3,018

 
3,023

 
2,857

 
2,101

 
10,999

 
616

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
54,590

 
(3,478
)
 
55,161

 
(45,221
)
 
(2,800
)
 
36,823

 
127,565

 
116,367

 
(27,874
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income tax expense (benefit)
16,031

 
(11,196
)
 
44,636

 
(3,713
)
 
24

 
12,047

 
29,201

 
37,559

 
(9,588
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
38,559

 
7,718

 
10,525

 
(41,508
)
 
(2,824
)
 
24,776

 
98,364

 
78,808

 
(18,286
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Less: Net income attributable to noncontrolling interests
2,983

 
3,762

 
3,431

 
953

 
1,029

 
857

 
1,428

 
4,267

 
869

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to Abercrombie & Fitch Co.
$
35,576

 
$
3,956

 
$
7,094

 
$
(42,461
)
 
$
(3,853
)
 
$
23,919

 
$
96,936

 
$
74,541

 
$
(19,155
)



1


 
 
 
 
 
 
 
 
Fiscal 2018
 
 
 
Fiscal 2019
 
 
2015
 
2016
 
2017 (1)
 
Q1
 
Q2
 
Q3
 
Q4
 
2018
 
Q1
Net income (loss) per share attributable to Abercrombie & Fitch Co.:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Basic
 
$
0.52

 
$
0.06

 
$
0.10

 
$
(0.62
)
 
$
(0.06
)
 
$
0.36

 
$
1.47

 
$
1.11

 
$
(0.29
)
 Diluted
 
$
0.51

 
$
0.06

 
$
0.10

 
$
(0.62
)
 
$
(0.06
)
 
$
0.35

 
$
1.42

 
$
1.08

 
$
(0.29
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average shares outstanding:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Basic
 
68,880

 
67,878

 
68,391

 
68,500

 
68,008

 
66,818

 
66,074

 
67,350

 
66,540

 Diluted
 
69,417

 
68,284

 
69,403

 
68,500

 
68,008

 
68,308

 
68,071

 
69,137

 
66,540

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hollister comparable sales
 
0
 %
 
0
 %
 
8
 %
 
6
%
 
4
%
 
4
%
 
6
 %
 
5
%
 
2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Abercrombie comparable sales (2)
 
(6
)%
 
(11
)%
 
(2
)%
 
3
%
 
2
%
 
1
%
 
(2
)%
 
1
%
 
1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable sales (3)
 
(3
)%
 
(5
)%
 
3
 %
 
5
%
 
3
%
 
3
%
 
3
 %
 
3
%
 
1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares outstanding
 
67,348

 
67,758

 
68,195

 
67,816

 
66,975

 
65,843

 
66,227

 
66,227

 
66,637

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of stores - end of period (4)
 
932

 
898

 
868

 
869

 
870

 
879

 
861

 
861

 
857

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Gross square feet - end of period
 
7,292

 
7,007

 
6,710

 
6,710

 
6,694

 
6,719

 
6,566

 
6,566

 
6,503

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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.

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