EX-99.2 3 q12020quarterlyhistory.htm EXHIBIT 99.2 Exhibit


Abercrombie & Fitch Co.
Financial Information
(Unaudited)
(in thousands, except per share data and store data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
Fiscal 2019
 
 
 
Fiscal 2020
 
 

2016
 
2017 (1)
 
2018
 
Q1
 
Q2
 
Q3
 
Q4
 
2019
 
Q1
 
2020
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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

 
$
485,359

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales, exclusive of depreciation and amortization
1,298,172

 
1,408,848

 
1,430,193

 
289,882

 
342,445

 
344,541

 
495,287

 
1,472,155

 
221,214

 
221,214

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit
2,028,568

 
2,083,842

 
2,159,916

 
444,090

 
498,633

 
518,931

 
689,264

 
2,150,918

 
264,145

 
264,145

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stores and distribution expense
1,562,703

 
1,540,032

 
1,536,216

 
356,612

 
376,347

 
377,697

 
440,587

 
1,551,243

 
322,124

 
322,124

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Marketing, general and administrative expense
453,202

 
471,914

 
484,863

 
111,947

 
115,694

 
114,075

 
122,899

 
464,615

 
108,257

 
108,257

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Flagship store exit charges (benefits)
15,757

 
2,393

 
5,806

 
1,744

 
44,994

 
285

 
234

 
47,257

 
(543
)
 
(543
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset impairment, exclusive of flagship store exit charges
7,930

 
14,391

 
11,580

 
1,662

 
715

 
12,610

 
4,148

 
19,135

 
42,928

 
42,928

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other operating (income) loss, net
(26,212
)
 
(16,938
)
 
(5,915
)
 
(617
)
 
367

 
(215
)
 
(935
)
 
(1,400
)
 
506

 
506

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating income (loss)
15,188

 
72,050

 
127,366

 
(27,258
)
 
(39,484
)
 
14,479

 
122,331

 
70,068

 
(209,127
)
 
(209,127
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
18,666

 
16,889

 
10,999

 
616

 
1,370

 
2,922

 
2,829

 
7,737

 
3,371

 
3,371

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
(3,478
)
 
55,161

 
116,367

 
(27,874
)
 
(40,854
)
 
11,557

 
119,502

 
62,331

 
(212,498
)
 
(212,498
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income tax (benefit) expense
(11,196
)
 
44,636

 
37,559

 
(9,588
)
 
(11,330
)
 
3,987

 
34,302

 
17,371

 
31,533

 
31,533

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
7,718

 
10,525

 
78,808

 
(18,286
)
 
(29,524
)
 
7,570

 
85,200

 
44,960

 
(244,031
)
 
(244,031
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Less: Net income attributable to noncontrolling interests
3,762

 
3,431

 
4,267

 
869

 
1,618

 
1,047

 
2,068

 
5,602

 
117

 
117

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
)
 
$
(244,148
)

1


 
 
 
 
 
 
 
 
Fiscal 2019
 
 
 
Fiscal 2020
 
 
 
 
2016
 
2017 (1)
 
2018
 
Q1
 
Q2
 
Q3
 
Q4
 
2019
 
Q1
 
2020
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
)
 
$
(3.90
)
 Diluted
 
$
0.06

 
$
0.10

 
$
1.08

 
$
(0.29
)
 
$
(0.48
)
 
$
0.10

 
$
1.29

 
$
0.60

 
$
(3.90
)
 
$
(3.90
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average shares outstanding:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Basic
 
67,878

 
68,391

 
67,350

 
66,540

 
65,156

 
63,099

 
62,916

 
64,428

 
62,541

 
62,541

 Diluted
 
68,284

 
69,403

 
69,137

 
66,540

 
65,156

 
63,911

 
64,198

 
65,778

 
62,541

 
62,541

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hollister comparable sales (2)
 
0
 %
 
8
 %
 
5
%
 
2
%
 
0
%
 
(2
)%
 
(2
)%
 
(1
)%
 
Not provided

 
Not provided

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Abercrombie comparable sales (2) (3)
 
(11
)%
 
(2
)%
 
1
%
 
1
%
 
0
%
 
3
 %
 
8
 %
 
3
 %
 
Not provided

 
Not provided

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable sales (2)
 
(5
)%
 
3
 %
 
3
%
 
1
%
 
0
%
 
0
 %
 
1
 %
 
1
 %
 
Not provided

 
Not provided

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares outstanding
 
67,758

 
68,195

 
66,227

 
66,637

 
63,146

 
62,757

 
62,786

 
62,786

 
62,284

 
62,284

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Number of stores - end of period
 
898

 
868

 
861

 
857

 
863

 
881

 
854

 
854

 
849

 
849

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Gross square feet - end of period
 
7,007

 
6,710

 
6,566

 
6,503

 
6,476

 
6,556

 
6,303

 
6,303

 
6,265

 
6,265

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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. 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. The Company did not provide comparable sales results for the first quarter of fiscal 2020.
(3) Abercrombie includes the Company's Abercrombie & Fitch and abercrombie kids brands.

2