Attached files
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8-K - 8-K - ABERCROMBIE & FITCH CO /DE/ | a5-30x17form8xkxearningsre.htm |
EX-99.4 - EXHIBIT 99.4 - ABERCROMBIE & FITCH CO /DE/ | q12017anfusqtranscript20.htm |
EX-99.3 - EXHIBIT 99.3 - ABERCROMBIE & FITCH CO /DE/ | q12017investorpresentati.htm |
EX-99.1 - EXHIBIT 99.1 - ABERCROMBIE & FITCH CO /DE/ | q12017earningsrelease.htm |
Abercrombie & Fitch Co. | |||||||||||||||||||||||||||||||||||
Financial Information | |||||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||||
(in thousands, except per share data and store data) | |||||||||||||||||||||||||||||||||||
Fiscal 2016 | Fiscal 2017 | ||||||||||||||||||||||||||||||||||
2013 | 2014 | 2015 | Q1 | Q2 | Q3 | Q4 | 2016 | Q1 | |||||||||||||||||||||||||||
Net sales | $ | 4,116,897 | $ | 3,744,030 | $ | 3,518,680 | $ | 685,483 | $ | 783,160 | $ | 821,734 | $ | 1,036,363 | $ | 3,326,740 | $ | 661,099 | |||||||||||||||||
Cost of sales, exclusive of depreciation and amortization | 1,541,462 | 1,430,460 | 1,361,137 | 259,762 | 306,053 | 310,995 | 421,362 | 1,298,172 | 262,174 | ||||||||||||||||||||||||||
Gross profit | 2,575,435 | 2,313,570 | 2,157,543 | 425,721 | 477,107 | 510,739 | 615,001 | 2,028,568 | 398,925 | ||||||||||||||||||||||||||
Stores and distribution expense | 1,907,687 | 1,703,051 | 1,604,214 | 369,118 | 382,917 | 389,609 | 439,816 | 1,578,460 | 359,929 | ||||||||||||||||||||||||||
Marketing, general and administrative expense | 481,784 | 458,820 | 470,321 | 114,447 | 111,719 | 105,307 | 121,729 | 453,202 | 109,893 | ||||||||||||||||||||||||||
Restructuring charge (benefit) | 81,500 | 8,431 | (1,598 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||
Asset impairment | 46,715 | 44,988 | 18,209 | — | 6,356 | — | 1,574 | 7,930 | 730 | ||||||||||||||||||||||||||
Other operating income, net | (23,074 | ) | (15,239 | ) | (6,441 | ) | (2,933 | ) | (13,080 | ) | (822 | ) | (9,377 | ) | (26,212 | ) | (1,686 | ) | |||||||||||||||||
Operating income (loss) | 80,823 | 113,519 | 72,838 | (54,911 | ) | (10,805 | ) | 19,645 | 61,259 | 15,188 | (69,941 | ) | |||||||||||||||||||||||
Interest expense, net | 7,546 | 14,365 | 18,248 | 4,506 | 4,741 | 4,609 | 4,810 | 18,666 | 4,120 | ||||||||||||||||||||||||||
Income (loss) before taxes | 73,277 | 99,154 | 54,590 | (59,417 | ) | (15,546 | ) | 15,036 | 56,449 | (3,478 | ) | (74,061 | ) | ||||||||||||||||||||||
Tax expense (benefit) | 18,649 | 47,333 | 16,031 | (20,787 | ) | (3,515 | ) | 6,762 | 6,344 | (11,196 | ) | (13,052 | ) | ||||||||||||||||||||||
Net income (loss) | 54,628 | 51,821 | 38,559 | (38,630 | ) | (12,031 | ) | 8,274 | 50,105 | 7,718 | (61,009 | ) | |||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | 2,983 | 957 | 1,098 | 393 | 1,314 | 3,762 | 691 | ||||||||||||||||||||||||||
Net income (loss) attributable to Abercrombie & Fitch Co. | $ | 54,628 | $ | 51,821 | $ | 35,576 | $ | (39,587 | ) | $ | (13,129 | ) | $ | 7,881 | $ | 48,791 | $ | 3,956 | $ | (61,700 | ) |
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Fiscal 2016 | Fiscal 2017 | ||||||||||||||||||||||||||||||||||
2013 | 2014 | 2015 | Q1 | Q2 | Q3 | Q4 | 2016 | Q1 | |||||||||||||||||||||||||||
Net income (loss) per share attributable to Abercrombie & Fitch Co.: | |||||||||||||||||||||||||||||||||||
Basic | $ | 0.71 | $ | 0.72 | $ | 0.52 | $ | (0.59 | ) | $ | (0.19 | ) | $ | 0.12 | $ | 0.72 | $ | 0.06 | $ | (0.91 | ) | ||||||||||||||
Diluted | $ | 0.69 | $ | 0.71 | $ | 0.51 | $ | (0.59 | ) | $ | (0.19 | ) | $ | 0.12 | $ | 0.71 | $ | 0.06 | $ | (0.91 | ) | ||||||||||||||
Weighted-average shares outstanding: | |||||||||||||||||||||||||||||||||||
Basic | 77,157 | 71,785 | 68,880 | 67,625 | 67,944 | 67,975 | 67,970 | 67,878 | 68,073 | ||||||||||||||||||||||||||
Diluted | 78,666 | 72,937 | 69,417 | 67,625 | 67,944 | 68,277 | 68,299 | 68,284 | 68,073 | ||||||||||||||||||||||||||
Abercrombie comparable sales (1) | (5 | )% | (6 | )% | (8 | )% | (7 | )% | (14 | )% | (13 | )% | (11 | )% | (10 | )% | |||||||||||||||||||
Hollister comparable sales (1) | (14 | )% | (10 | )% | — | % | — | % | (2 | )% | — | % | 1 | % | — | % | 3 | % | |||||||||||||||||
Comparable sales (2) | (11 | )% | (8 | )% | (3 | )% | (4 | )% | (4 | )% | (6 | )% | (5 | )% | (5 | )% | (3 | )% | |||||||||||||||||
Shares outstanding | 76,402 | 69,352 | 67,348 | 67,605 | 67,666 | 67,683 | 67,758 | 67,758 | 68,012 | ||||||||||||||||||||||||||
Number of stores - end of period (3) | 1,006 | 969 | 932 | 925 | 926 | 930 | 898 | 898 | 893 | ||||||||||||||||||||||||||
Gross square feet - end of period | 7,736 | 7,517 | 7,292 | 7,209 | 7,209 | 7,219 | 7,007 | 7,007 | 6,939 | ||||||||||||||||||||||||||
(1) Abercrombie includes the Company's Abercrombie & Fitch and abercrombie kids brands. Hollister includes the Company's Hollister and Gilly Hicks brands. | |||||||||||||||||||||||||||||||||||
(2) Comparable sales are calculated on a constant currency basis. | |||||||||||||||||||||||||||||||||||
(3) Prior period store counts have been restated to count multi-brand outlet stores as a single store. |
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