Abercrombie & Fitch Co. | ||||||||||||||||||||||||||||||||
Financial Information | ||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||
(in thousands, except per share data and store data) | ||||||||||||||||||||||||||||||||
Fiscal 2013 | Fiscal 2014 | |||||||||||||||||||||||||||||||
2010 | 2011 | 2012 | Q1 | Q2 | Q3 | Q4 | 2013 | Q1 | ||||||||||||||||||||||||
Net Sales | $ | 3,468,777 | $ | 4,158,058 | $ | 4,510,805 | $ | 838,769 | $ | 945,698 | $ | 1,033,293 | $ | 1,299,137 | $ | 4,116,897 | $ | 822,428 | ||||||||||||||
Cost of Goods Sold | 1,251,348 | 1,607,834 | 1,694,096 | 285,603 | 341,576 | 382,253 | 532,030 | 1,541,462 | 310,769 | |||||||||||||||||||||||
Gross Profit | 2,217,429 | 2,550,224 | 2,816,709 | 553,166 | 604,122 | 651,040 | 767,107 | 2,575,435 | 511,659 | |||||||||||||||||||||||
Stores and Distribution Expense | 1,538,870 | 1,820,226 | 1,980,510 | 449,125 | 471,722 | 481,233 | 505,607 | 1,907,687 | 417,571 | |||||||||||||||||||||||
Marketing, General and Administrative Expense | 400,804 | 437,120 | 473,883 | 118,780 | 117,646 | 126,750 | 118,608 | 481,784 | 123,581 | |||||||||||||||||||||||
Restructuring Charges | — | — | — | — | — | 44,708 | 36,792 | 81,500 | 5,633 | |||||||||||||||||||||||
Asset Impairment Charges | 50,631 | 68,022 | 7,407 | — | — | 43,571 | 3,144 | 46,715 | — | |||||||||||||||||||||||
Other Operating (Income) Expense, Net | (10,056 | ) | 3,472 | (19,333 | ) | (818 | ) | (4,411 | ) | (9,851 | ) | (7,994 | ) | (23,074 | ) | (3,620 | ) | |||||||||||||||
Operating Income (Loss) | 237,180 | 221,384 | 374,233 | (13,921 | ) | 19,165 | (35,370 | ) | 110,950 | 80,823 | (31,506 | ) | ||||||||||||||||||||
Interest (Income) Expense, Net | 3,362 | 3,577 | 7,288 | 1,628 | 1,750 | 1,655 | 2,513 | 7,546 | 1,997 | |||||||||||||||||||||||
Income (Loss) from Continuing Operations Before Taxes | 233,818 | 217,807 | 366,945 | (15,549 | ) | 17,415 | (37,025 | ) | 108,437 | 73,277 | (33,503 | ) | ||||||||||||||||||||
Tax Expense (Benefit) for Continuing Operations | 78,109 | 74,669 | 129,934 | (8,346 | ) | 6,045 | (21,381 | ) | 42,331 | 18,649 | (9,832 | ) | ||||||||||||||||||||
Net Income (Loss) from Continuing Operations | 155,709 | 143,138 | 237,011 | (7,203 | ) | 11,370 | (15,644 | ) | 66,106 | 54,628 | (23,671 | ) | ||||||||||||||||||||
Net (Loss) Income from Discontinued Operations (Net of Taxes) | — | 796 | — | — | — | — | — | — | — | |||||||||||||||||||||||
Net Income (Loss) | 155,709 | 143,934 | 237,011 | (7,203 | ) | 11,370 | (15,644 | ) | 66,106 | 54,628 | (23,671 | ) | ||||||||||||||||||||
Fiscal 2013 | Fiscal 2014 | |||||||||||||||||||||||||||||||
2010 | 2011 | 2012 | Q1 | Q2 | Q3 | Q4 | YTD | Q1 | ||||||||||||||||||||||||
Basic | $ | 1.77 | $ | 1.65 | $ | 2.89 | $ | (0.09 | ) | $ | 0.15 | $ | (0.20 | ) | $ | 0.86 | $ | 0.71 | $ | (0.32 | ) | |||||||||||
Diluted | $ | 1.73 | $ | 1.60 | $ | 2.85 | $ | (0.09 | ) | $ | 0.14 | $ | (0.20 | ) | $ | 0.85 | $ | 0.69 | $ | (0.32 | ) | |||||||||||
Net (Loss) Income Per Share from Discontinued Operations: | ||||||||||||||||||||||||||||||||
Basic | $ | — | $ | 0.01 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Diluted | $ | — | $ | 0.01 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Net Income (Loss) Per Share: | �� | |||||||||||||||||||||||||||||||
Basic | $ | 1.77 | $ | 1.66 | $ | 2.89 | $ | (0.09 | ) | $ | 0.15 | $ | (0.20 | ) | $ | 0.86 | $ | 0.71 | $ | (0.32 | ) | |||||||||||
Diluted | $ | 1.73 | $ | 1.61 | $ | 2.85 | $ | (0.09 | ) | $ | 0.14 | $ | (0.20 | ) | $ | 0.85 | $ | 0.69 | $ | (0.32 | ) | |||||||||||
Weighted-Average Shares Outstanding: | ||||||||||||||||||||||||||||||||
Basic | 88,061 | 86,848 | 81,940 | 78,324 | 77,382 | 76,456 | 76,467 | 77,157 | 74,483 | |||||||||||||||||||||||
Diluted | 89,851 | 89,537 | 83,175 | 78,324 | 79,267 | 76,456 | 77,568 | 78,666 | 74,483 | |||||||||||||||||||||||
Comparable Store Sales | 7 | % | 5 | % | (5 | )% | (17 | )% | (14 | )% | (18 | )% | (16 | )% | (16 | )% | (11 | )% | ||||||||||||||
Comparable Direct-to-Consumer Sales | 24 | % | (6 | )% | 14 | % | 11 | % | 24 | % | 13 | % | 27 | % | ||||||||||||||||||
Comparable Sales (1) | (1 | )% | (15 | )% | (10 | )% | (14 | )% | (8 | )% | (11 | )% | (4 | )% | ||||||||||||||||||
Actual Shares Outstanding | 87,246 | 85,638 | 78,445 | 78,306 | 76,384 | 76,395 | 76,402 | 76,402 | 72,775 | |||||||||||||||||||||||
Number of Stores - End of Period (2) | 1,069 | 1,045 | 1,041 | 1,042 | 1,044 | 1,049 | 1,006 | 1,006 | 999 | |||||||||||||||||||||||
Gross Square Feet - End of Period | 7,756 | 7,778 | 7,958 | 7,970 | 8,006 | 8,069 | 7,736 | 7,736 | 7,682 |
(1) Includes comparable store and direct-to-consumer sales.
(2) Prior period store counts have been restated to count multi-brand outlet stores as a single store.