Abercrombie & Fitch (ANF) 8-K Abercrombie & Fitch Reports Third Quarter Results

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			Q2			Q3			YTD
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		$	890,605		$	911,453		$	2,624,486
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			337,649			344,383			992,801
Gross Profit	2,217,429			2,550,224		2,816,709			553,166			604,122			651,040			767,107			2,575,435			511,659			552,956			567,070			1,631,685
Stores and Distribution Expense	1,538,870			1,820,226		1,980,519			449,125			471,722			481,233			505,607			1,907,687			417,571			426,301			413,551			1,257,422
Marketing, General and Administrative Expense	400,804			437,120		473,883			118,780			117,646			126,750			118,608			481,784			123,581			111,033			104,981			339,595
Restructuring Charges	—			—		—			—			—			44,708			36,792			81,500			5,633			419			—			6,053
Asset Impairment	50,631			68,022		7,407			—			—			43,571			3,144			46,715			—			—			16,706			16,706
Other Operating (Income) Expense, Net	(10,056		)	3,472		(19,333		)	(818		)	(4,411		)	(9,851		)	(7,994		)	(23,074		)	(3,620		)	(4,290		)	(1,534		)	(9,444		)
Operating Income (Loss)	237,180			221,384		374,233			(13,921		)	19,165			(35,370		)	110,950			80,823			(31,506		)	19,493			33,366			21,353
Interest (Income) Expense, Net	3,362			3,577		7,288			1,628			1,750			1,655			2,513			7,546			1,997			2,020			5,572			9,589
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		)	17,473			27,794			11,764
Tax Expense (Benefit) for Continuing Operations	78,109			74,669		129,934			(8,346		)	6,045			(21,381		)	42,331			18,649			(9,832		)	4,596			9,567			4,331
Net Income (Loss) from Continuing Operations	155,709			143,138		237,011			(7,203		)	11,370			(15,644		)	66,106			54,628			(23,671		)	12,877			18,227			7,433
Net Income (Loss) 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	)	$	12,877		$	18,227		$	7,433

							Fiscal 2013												Fiscal 2014
	2010		2011		2012		Q1			Q2		Q3			Q4		YTD		Q1			Q2		Q3		YTD
Net Income (Loss) Per Share from Continuing Operations:
Basic	$	1.77	$	1.65	$	2.89	$	(0.09	)	$	0.15	$	(0.20	)	$	0.86	$	0.71	$	(0.32	)	$	0.18	$	0.26	$	0.10
Diluted	$	1.73	$	1.60	$	2.85	$	(0.09	)	$	0.14	$	(0.20	)	$	0.85	$	0.69	$	(0.32	)	$	0.17	$	0.25	$	0.10
Net 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	)	$	0.18	$	0.26	$	0.10
Diluted	$	1.73	$	1.61	$	2.85	$	(0.09	)	$	0.14	$	(0.20	)	$	0.85	$	0.69	$	(0.32	)	$	0.17	$	0.25	$	0.10
Weighted-Average Shares Outstanding:
Basic	88,061		86,848		81,940		78,324			77,382		76,456			76,467		77,157		74,483			72,436		70,814		72,577
Diluted	89,851		89,537		83,175		78,324			79,267		76,456			77,568		78,666		74,483			73,756		72,128		73,870
Comparable Store Sales	7%		5%		(5)%		(17)%			(14)%		(18)%			(16)%		(16)%		(11)%			(11)%		(14)%		(12)%
Comparable Direct-to-Consumer Sales					24%		(6)%			14%		11%			24%		13%		27%			11%		8%		15%
Comparable Sales (1)					(1)%		(15)%			(10)%		(14)%			(8)%		(11)%		(4)%			(7)%		(10)%		(7)%
Actual Shares Outstanding	87,246		85,638		78,445		78,306			76,384		76,395			76,402		76,402		72,775			71,363		69,336		69,336
Number of Stores - End of Period (2)	1,069		1,045		1,041		1,042			1,044		1,049			1,006		1,006		999			997		1,000		1,000
Gross Square Feet - End of Period	7,756		7,778		7,958		7,970			8,006		8,069			7,736		7,736		7,682			7,683		7,715		7,715
(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.