EX-99.2 3 q42020quarterlyhistory.htm EX-99.2 Document

Abercrombie & Fitch Co.
Financial Information
(Unaudited)
(in thousands, except per share data and store data)
Fiscal 2019Fiscal 2020
2016
2017 (1)
2018Q1Q2Q3Q42019Q1Q2Q3Q42020
Net sales$3,326,740 $3,492,690 $3,590,109 $733,972 $841,078 $863,472 $1,184,551 $3,623,073 $485,359 $698,328 $819,653 $1,122,044 $3,125,384 
Cost of sales, exclusive of depreciation and amortization1,298,172 1,408,848 1,430,193 289,882 342,445 344,541 495,287 1,472,155 221,214 274,720 295,220 443,025 1,234,179 
Gross profit2,028,568 2,083,842 2,159,916 444,090 498,633 518,931 689,264 2,150,918 264,145 423,608 524,433 679,019 1,891,205 
Stores and distribution expense1,562,703 1,540,032 1,536,216 356,612 376,347 377,697 440,587 1,551,243 322,124 310,370 346,263 412,827 1,391,584 
Marketing, general and administrative expense453,202 471,914 484,863 111,947 115,694 114,075 122,899 464,615 108,257 97,252 121,000 137,334 463,843 
Flagship store exit charges (benefits)15,757 2,393 5,806 1,744 44,994 285 234 47,257 (543)(3,884)(8,063)854 (11,636)
Asset impairment, exclusive of flagship store exit charges7,930 14,391 11,580 1,662 715 12,610 4,148 19,135 42,928 8,083 6,329 15,597 72,937 
Other operating (income) loss, net(26,212)(16,938)(5,915)(617)367 (215)(935)(1,400)506 (2,356)288 (3,492)(5,054)
Operating income (loss)15,188 72,050 127,366 (27,258)(39,484)14,479 122,331 70,068 (209,127)14,143 58,616 115,899 (20,469)
Interest expense, net18,666 16,889 10,999 616 1,370 2,922 2,829 7,737 3,371 7,098 8,808 8,997 28,274 
(Loss) income before income taxes(3,478)55,161 116,367 (27,874)(40,854)11,557 119,502 62,331 (212,498)7,045 49,808 106,902 (48,743)
Income tax (benefit) expense(11,196)44,636 37,559 (9,588)(11,330)3,987 34,302 17,371 31,533 1,253 5,779 21,646 60,211 
Net income (loss)7,718 10,525 78,808 (18,286)(29,524)7,570 85,200 44,960 (244,031)5,792 44,029 85,256 (108,954)
Less: Net income attributable to noncontrolling interests3,762 3,431 4,267 869 1,618 1,047 2,068 5,602 117 328 1,758 2,864 5,067 
Net income (loss) attributable to Abercrombie & Fitch Co.$3,956 $7,094 $74,541 $(19,155)$(31,142)$6,523 $83,132 $39,358 $(244,148)$5,464 $42,271 $82,392 $(114,021)
Fiscal 2019Fiscal 2020
2016
2017 (1)
2018Q1Q2Q3Q42019Q1Q2Q3Q42020
Net income (loss) per share attributable to Abercrombie & Fitch Co.:
 Basic$0.06 $0.10 $1.11 $(0.29)$(0.48)$0.10 $1.32 $0.61 $(3.90)$0.09 $0.68 $1.32 $(1.82)
 Diluted$0.06 $0.10 $1.08 $(0.29)$(0.48)$0.10 $1.29 $0.60 $(3.90)$0.09 $0.66 $1.27 $(1.82)
Weighted-average shares outstanding:
 Basic67,878 68,391 67,350 66,540 65,156 63,099 62,916 64,428 62,541 62,527 62,558 62,581 62,551 
 Diluted68,284 69,403 69,137 66,540 65,156 63,911 64,198 65,778 62,541 63,286 63,877 64,788 62,551 
Hollister comparable sales (2)
0 %8 %5 %2 %0 %(2)%(2)%(1)%Not providedNot providedNot providedNot providedNot provided
Abercrombie comparable sales (2) (3)
(11)%(2)%1 %1 %0 %3 %8 %3 %Not providedNot providedNot providedNot providedNot provided
Comparable sales (2)
(5)%3 %3 %1 %0 %0 %1 %1 %Not providedNot providedNot providedNot providedNot provided
Shares outstanding67,758 68,195 66,227 66,637 63,146 62,757 62,786 62,786 62,284 62,365 62,384 62,399 62,399 
 Number of stores - end of period (4)
898 868 861 857 864 882 857 857 853 854 853 735 735 
 Gross square feet - end of period (4)
7,007 6,710 6,566 6,503 6,477 6,558 6,314 6,314 6,285 6,296 6,235 5,232 5,232 
(1) Fiscal 2017 was a fifty-three week year.
(2) Comparable sales are calculated on a constant currency basis and exclude revenue other than store and online sales. The Company did not provide comparable sales results for fiscal 2020 due to widespread temporary store closures as a result of COVID-19.
(3) Abercrombie includes the Company's Abercrombie & Fitch and abercrombie kids brands.
(4) Prior period numbers have been revised due to a change in the temporary store definition to only include store leases with original terms of 18 months or less.
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