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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		Q3		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	$	1,056,431	$	2,827,770
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		370,762		1,047,927
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		685,669		1,779,843
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		383,883		1,068,226
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		162,510		449,643

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)		1,256		(4,332)
Operating income (loss)	70,068		(20,469)		343,084		(9,726)		(2,191)		17,543		87,022		92,648		34,007		89,842		138,020		261,870
Interest expense, net	7,737		28,274		34,110		7,307		6,917		7,295		4,113		25,632		3,443		1,097		671		5,211
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		137,349		256,659
Income tax expense (benefit)	17,371		60,211		38,908		(2,187)		5,634		10,966		42,218		56,631		12,717		30,014		39,617		82,349
Net income (loss)	44,960		(108,654)		270,066		(14,846)		(14,742)		(718)		40,691		10,385		17,847		58,731		97,732		174,310
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		1,521		4,634
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	$	96,211	$	169,676

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		$1.91		$3.38
Diluted	$0.60		$(1.82)		$4.20		$(0.32)		$(0.33)		$(0.04)		$0.75		$0.05		$0.32		$1.10		$1.83		$3.25

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		50,504		50,138
Diluted	65,778		62,551		62,636		52,077		50,441		49,486		51,217		52,327		51,467		51,548		52,624		52,154


Abercrombie & Fitch Co.
Financial Information
(Unaudited)
(in thousands, except per share data)
							Fiscal 2023
	2019		2020		2021			2022		Q3 YTD




Cash flow and capital allocation:
Net cash provided by (used for) operating activities	$	300,685	$	404,918	$	277,782		$	(2,343)	$	350,142
Net cash used for investing activities	$	(202,784)	$	(51,910)	$	(96,979)		$	(140,675)	$	(127,986)
Net cash (used for) provided by financing activities (YTD)	$	(147,873)	$	69,717	$	(446,898)		$	(155,329)	$	(87,106)

Capital expenditures	$	202,784	$	101,910	$	96,979		$	164,566	$	128,601

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		50,401


Abercrombie & Fitch Co.
Financial Information

(Unaudited)
					Fiscal 2022					Fiscal 2023
	2019		2020	2021	Q1	Q2	Q3	Q4	2022	Q1		Q2		Q3		2023
Operating segment comparable sales
Americas (1)	Not provided		Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided		14	%	16	%	12	%
EMEA (1)	Not provided		Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided		6	%	15	%	6	%
APAC (1)	Not provided		Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided		26	%	32	%	28	%
Comparable sales (1)	1	%	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	3	%	13	%	16	%	11	%

Branded comparable sales
Abercrombie comparable sales (1) (2)	3	%	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	14	%	23	%	26	%	21	%
Hollister comparable sales (1) (3)	-1	%	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	-3	%	5	%	7	%	2	%
Comparable sales (1)	1	%	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	Not provided	3	%	13	%	16	%	11	%
(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.