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Abercrombie & Fitch Co.
Financial Information
(Unaudited)
(in thousands, except per share data)
							Fiscal 2022										Fiscal 2023
	2019		2020		2021		Q1		Q2		Q3		Q4		2022		Q1		Q2		2023
Net sales	$	3,623,073	$	3,125,384	$	3,712,768	$	812,762	$	805,091	$	880,084	$	1,199,814	$	3,697,751	$	835,994	$	935,345	$	1,771,339
Cost of sales, exclusive of depreciation and amortization	1,472,155		1,234,179		1,400,773		363,216		339,200		359,268		531,529		1,593,213		326,200		350,965		677,165
Gross profit	2,150,918		1,891,205		2,311,995		449,546		465,891		520,816		668,285		2,104,538		509,794		584,380		1,094,174
Stores and distribution expense	1,598,500		1,379,948		1,428,323		337,543		340,791		367,333		437,264		1,482,931		331,613		352,730		684,343
Marketing, general and administrative expense	464,615		463,843		536,815		122,149		124,168		133,201		138,084		517,602		142,631		144,502		287,133

Asset impairment	19,135		72,937		12,100		3,422		2,170		3,744		4,695		14,031		4,436		—		4,436
Other operating (income) loss, net	(1,400)		(5,054)		(8,327)		(3,842)		953		(1,005)		1,220		(2,674)		(2,893)		(2,694)		(5,586)
Operating income (loss)	70,068		(20,469)		343,084		(9,726)		(2,191)		17,543		87,022		92,648		34,007		89,842		123,850
Interest expense, net	7,737		28,274		34,110		7,307		6,917		7,295		4,113		25,632		3,443		1,097		4,540
Income (loss) before income taxes	62,331		(48,743)		308,974		(17,033)		(9,108)		10,248		82,909		67,016		30,564		88,745		119,310
Income tax expense (benefit)	17,371		60,211		38,908		(2,187)		5,634		10,966		42,218		56,631		12,717		30,014		42,732
Net income (loss)	44,960		(108,654)		270,066		(14,846)		(14,742)		(718)		40,691		10,385		17,847		58,731		76,578
Less: Net income attributable to noncontrolling interests	5,602		5,067		7,056		1,623		2,092		1,496		2,358		7,569		1,276		1,837		3,113
Net income (loss) attributable to Abercrombie & Fitch Co.	$	39,358	$	(114,021)	$	263,010	$	(16,469)	$	(16,834)	$	(2,214)	$	38,333	$	2,816	$	16,571	$	56,894	$	73,465

Net income (loss) per share attributable to Abercrombie & Fitch Co.:
Basic	$0.61		$(1.82)		$4.41		$(0.32)		$(0.33)		$(0.04)		$0.78		$0.06		$0.33		$1.13		$1.47
Diluted	$0.60		$(1.82)		$4.20		$(0.32)		$(0.33)		$(0.04)		$0.75		$0.05		$0.32		$1.10		$1.43

Weighted-average shares outstanding:
Basic	64,428		62,551		59,597		52,077		50,441		49,486		49,216		50,307		49,574		50,322		49,952
Diluted	65,778		62,551		62,636		52,077		50,441		49,486		51,217		52,327		51,467		51,548		51,535


Abercrombie & Fitch Co.
Financial Information
(Unaudited)
(in thousands, except per share data)
							Fiscal 2023
	2019		2020		2021			2022		Q2 YTD




Cash flow and capital allocation:
Net cash provided by (used for) operating activities	$	300,685	$	404,918	$	277,782		$	(2,343)	$	216,328
Net cash used for investing activities	$	(202,784)	$	(51,910)	$	(96,979)		$	(140,675)	$	(89,780)
Net cash (used for) provided by financing activities (YTD)	$	(147,873)	$	69,717	$	(446,898)		$	(155,329)	$	(23,342)

Capital expenditures	$	202,784	$	101,910	$	96,979		$	164,566	$	89,780

Number of shares repurchased as part of publicly announced plans or programs	3,957		1,397		10,200			4,770		—
Average price per share paid	$	16.06	$	10.86	$	36.99		$	26.37	$	—

Cost of shares repurchased	$	63,542	$	15,172	$	377,290		$	125,775	$	—
Dividends	51,510		12,556		—			—		—
Total	$	115,052	$	27,728	$	377,290		$	125,775	$	—

Shares outstanding	62,786		62,399		52,985			49,002		50,141

Abercrombie & Fitch Co.

Financial Information

(Unaudited)

Fiscal 2022

Fiscal 2023

2019

2020

2021

2022

2023

Operating segment comparable sales

Americas (1)

Not provided

EMEA (1)

Not provided

APAC (1)

Not provided

Comparable sales (1)

Not provided

Branded comparable sales

Abercrombie comparable sales (1) (2)

Not provided

Hollister comparable sales (1) (3)

-1

Not provided

-3

-1

Comparable sales (1)

Not provided

(1) 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, fiscal 2021 or fiscal 2022 due to temporary store closures as a result of COVID-19.

(2) Abercrombie includes the Company's Abercrombie & Fitch and abercrombie kids brands.

(3) Hollister includes the Company's Hollister, Gilly Hicks, and Social Tourist brands.