.
.
.
EXHIBIT 99.3
ABERCROMBIE & FITCH CO.
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
<Table>
<Caption>
(UNAUDITED) (RESTATED)
JANUARY 29, 2005 JANUARY 31, 2004
-------------------- --------------------
ASSETS
Current Assets
Cash and Marketable Securities $ 350,367 $ 521,073
Receivables 26,127 7,197
Inventories 211,199 170,703
Store Supplies 36,536 29,993
Other 28,048 23,689
-------------------- --------------------
Total Current Assets 652,277 752,655
Property and Equipment, Net 681,312 630,022
Other Assets 8,413 552
-------------------- --------------------
TOTAL ASSETS $ 1,342,002 $ 1,383,229
-------------------- --------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts Payable $ 137,336 $ 91,364
Accrued Expenses 234,211 163,389
Deferred Lease Credits 29,777 30,936
Income Taxes Payable 23,638 40,343
-------------------- --------------------
Total Current Liabilities 424,962 326,032
-------------------- --------------------
Long-Term Liabilities
Debt -- --
Deferred Income Taxes 42,891 20,585
Deferred Lease Credits 173,582 150,459
Other 31,241 28,388
-------------------- --------------------
Total Long-Term Liabilities 247,714 199,432
-------------------- --------------------
Total Shareholders' Equity 669,326 857,765
-------------------- --------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,342,002 $ 1,383,229
-------------------- --------------------
</Table>
ABERCROMBIE & FITCH CO.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
THIRTEEN WEEKS ENDED JANUARY 29, 2005 AND THIRTEEN WEEKS ENDED JANUARY 31, 2004
(IN THOUSANDS EXCEPT PER SHARE DATA)
<Table>
<Caption>
(UNAUDITED) (RESTATED)
--------------------------- --------------------------
2004 % of Sales 2003 % of Sales
---------- ---------- ---------- ----------
Net Sales $ 687,254 100.0% $ 560,389 100.0%
---------- ---------- ---------- ----------
Gross Income 336,624 49.0% 261,523 46.7%
Gen'l, Admin. & Store Oper. Exp 166,449 24.2% 106,734 19.0%
---------- ---------- ---------- ----------
Operating Income 170,175 24.8% 154,789 27.6%
Interest Income, Net (1,301) -0.2% (1,099) -0.2%
---------- ---------- ---------- ----------
Income Before Income Taxes 171,476 25.0% 155,888 27.8%
Income Tax Expense 67,215 9.8% 61,304 10.9%
Effective Rate 39.2% 39.3%
---------- ----------
Net Income $ 104,261 15.2% $ 94,584 16.9%
---------- ---------- ---------- ----------
Net Income Per Share:
Basic $ 1.19 $ 0.98
Fully Diluted $ 1.15 $ 0.97
Weighted Average Shares Outstanding
Basic 87,640 96,105
Fully Diluted 90,750 97,839
</Table>
ABERCROMBIE & FITCH CO.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
FIFTY-TWO WEEKS ENDED JANUARY 29, 2005 AND FIFTY-TWO
WEEKS ENDED JANUARY 31, 2004
(IN THOUSANDS EXCEPT PER SHARE DATA)
<Table>
<Caption>
(UNAUDITED) (RESTATED)
----------------------------- ----------------------------
2004 % of Sales 2003 % of Sales
----------- ----------- ----------- -----------
Net Sales $ 2,021,253 100.0% $ 1,707,810 100.0%
----------- ----------- ----------- -----------
Gross Income 909,793 45.0% 716,944 42.0%
Gen'l, Admin. & Store Oper. Exp 562,158 27.8% 385,764 22.6%
----------- ----------- ----------- -----------
Operating Income 347,635 17.2% 331,180 19.4%
Interest Income, Net (5,218) -0.3% (3,708) -0.2%
----------- ----------- ----------- -----------
Income Before Income Taxes 352,853 17.5% 334,888 19.6%
Income Tax Expense 136,477 6.8% 130,058 7.6%
Effective Rate 38.7% 38.8%
----------- -----------
Net Income $ 216,376 10.7% $ 204,830 12.0%
----------- ----------- ----------- -----------
Net Income Per Share:
Basic $ 2.33 $ 2.12
Fully Diluted $ 2.28 $ 2.06
Weighted Average Shares Outstanding:
Basic 92,780 96,833
Fully Diluted 95,110 99,580
</Table>
ABERCROMBIE & FITCH
QUARTERLY FINANCIAL INFORMATION
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, RATIOS AND STORE DATA)
<Table>
<Caption>
PERIOD 2001 2002
RESTATED RESTATED
----------------------------------------------- --------------------------------------------
(% CHANGE) (TOTAL) (% CHANGE) (TOTAL)
1. SALES (COMP STORES) (% CHANGE) (COMP STORES) (% CHANGE)
------------- ---------- ------------- ----------
1st Qtr 2% 263,680 29% -6% 312,792 19%
2nd Qtr -8% 280,116 22% -5% 329,154 18%
3rd Qtr -15% 354,473 -3% -5% 419,329 18%
4th Qtr -9% 466,584 6% -4% 534,482 15%
Year -9% 1,364,853 10% -5% 1,595,757 17%
6 Mos -3% 543,796 25% -6% 641,946 18%
9 Mos -8% 898,269 13% -5% 1,061,274 18%
<Caption>
PERIOD 2003 2004
RESTATED Q1, Q2, Q3 RESTATED
Q4 UNAUDITED
------------------------------------------ -------------------------------------------
(% CHANGE) (TOTAL) (% CHANGE) (TOTAL)
1. SALES (COMP STORES) (% CHANGE) (COMP STORES) (% CHANGE)
------------- ---------- ------------- ----------
1st Qtr -6% 346,722 11% 0% 411,930 19%
2nd Qtr -8% 355,719 8% -5% 401,346 13%
3rd Qtr -9% 444,979 6% 1% 520,724 17%
4th Qtr -11% 560,389 5% 9% 687,254 23%
Year -9% 1,707,810 7% 2% 2,021,253 18%
6 Mos -7% 702,441 9% -3% 813,276 16%
9 Mos -8% 1,147,421 8% -1% 1,333,999 16%
</Table>
<Table>
<Caption>
2. COST OF GOODS
SOLD, BUY & OCC (% OF SALES) (% OF SALES) (% OF SALES) (% OF SALES)
1st Qtr 166,860 63.3% 198,671 63.5% 218,144 62.9% 246,940 59.9%
2nd Qtr 172,580 61.6% 197,796 60.1% 211,869 59.6% 219,703 54.7%
3rd Qtr 212,491 59.9% 253,279 60.4% 261,986 58.9% 294,187 56.5%
4th Qtr 258,343 55.4% 290,264 54.3% 298,867 53.3% 350,632 51.0%
Year 810,274 59.4% 940,010 58.9% 990,867 58.0% 1,111,462 55.0%
6 Mos 339,440 62.4% 396,467 61.8% 430,013 61.2% 466,643 57.4%
9 Mos 551,931 61.4% 649,746 61.2% 691,999 60.3% 760,830 57.0%
</Table>
<Table>
<Caption>
3. GROSS INCOME (% OF SALES) (% OF SALES) (% OF SALES) (% OF SALES)
1st Qtr 96,820 36.7% 114,121 36.5% 128,578 37.1% 164,990 40.1%
2nd Qtr 107,536 38.4% 131,357 39.9% 143,850 40.4% 181,643 45.3%
3rd Qtr 141,982 40.1% 166,049 39.6% 182,993 41.1% 226,537 43.5%
4th Qtr 208,241 44.6% 244,220 45.7% 261,522 46.7% 336,622 49.0%
Year 554,579 40.6% 655,747 41.1% 716,943 42.0% 909,792 45.0%
6 Mos 204,356 37.6% 245,478 38.2% 272,428 38.8% 346,633 42.6%
9 Mos 346,338 38.6% 411,528 38.8% 455,421 39.7% 573,168 43.0%
</Table>
ABERCROMBIE & FITCH
QUARTERLY FINANCIAL INFORMATION
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, RATIOS AND STORE DATA)
<Table>
<Caption>
PERIOD 2001 2002 2003 2004
RESTATED RESTATED RESTATED Q1, Q2, Q3 RESTATED
Q4 UNAUDITED
---------------------- ---------------------- ---------------------- ----------------------
4. GENERAL ADMIN. &
STORE OPERATING EXP (% OF SALES) (% OF SALES) (% OF SALES) (% OF SALES)
------------ ------------ ------------ ------------
1st Qtr 65,777 24.9% 77,442 24.8% 87,898 25.4% 118,269 28.7%
2nd Qtr 68,397 24.4% 82,304 25.0% 88,716 24.9% 112,881 28.1%
3rd Qtr 72,511 20.5% 90,304 21.5% 102,415 23.0% 164,559 31.6%
4th Qtr 79,891 17.1% 93,382 17.5% 106,734 19.0% 166,449 24.2%
Year 286,576 21.0% 343,432 21.5% 385,764 22.6% 562,158 27.8%
6 Mos 134,174 24.7% 159,746 24.9% 176,614 25.1% 231,150 28.4%
9 Mos 206,685 23.0% 250,049 23.6% 279,030 24.3% 395,709 29.7%
</Table>
<Table>
<Caption>
5. OPERATING INCOME (% OF SALES) (% OF SALES) (% OF SALES) (% OF SALES)
------------ ------------ ------------ ------------
1st Qtr 31,043 11.8% 36,679 11.7% 40,680 11.7% 46,721 11.3%
2nd Qtr 39,139 14.0% 49,053 14.9% 55,134 15.5% 68,762 17.1%
3rd Qtr 69,471 19.6% 75,745 18.1% 80,578 18.1% 61,978 11.9%
4th Qtr 128,350 27.5% 150,838 28.2% 154,788 27.6% 170,173 24.8%
Year 268,003 19.6% 312,315 19.6% 331,179 19.4% 347,634 17.2%
6 Mos 70,182 12.9% 85,732 13.4% 95,814 13.6% 115,483 14.2%
9 Mos 139,653 15.5% 161,479 15.2% 176,391 15.4% 177,459 13.3%
</Table>
ABERCROMBIE & FITCH
QUARTERLY FINANCIAL INFORMATION
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, RATIOS AND STORE DATA)
<Table>
<Caption>
PERIOD 2001 2002 2003 2004
RESTATED RESTATED RESTATED Q1, Q2, Q3 RESTATED
Q4 UNAUDITED
--------------------- --------------------- --------------------- ---------------------
6. INTEREST EXPENSE (INCOME) (% OF SALES) (% OF SALES) (% OF SALES) (% OF SALES)
------------ ------------ ------------ ------------
1st Qtr (1,720) -0.7% (872) -0.3% (991) -0.3% (985) -0.2%
2nd Qtr (1,128) -0.4% (731) -0.2% (861) -0.2% (1,358) -0.3%
3rd Qtr (1,001) -0.3% (866) -0.2% (757) -0.2% (1,574) -0.3%
4th Qtr (1,215) -0.3% (1,300) -0.2% (1,099) -0.2% (1,301) -0.2%
Year (5,064) -0.4% (3,768) -0.2% (3,708) -0.2% (5,218) -0.3%
6 Mos (2,848) -0.5% (1,603) -0.2% (1,852) -0.3% (2,343) -0.3%
9 Mos (3,849) -0.4% (2,468) -0.2% (2,610) -0.2% (3,919) -0.3%
</Table>
<Table>
<Caption>
7. PRE-TAX INCOME
(PRE-TAX MARGIN) (% OF SALES) (% OF SALES) (% OF SALES) (% OF SALES)
------------ ------------ ------------ ------------
1st Qtr 32,763 12.4% 37,551 12.0% 41,671 12.0% 47,706 11.6%
2nd Qtr 40,267 14.4% 49,784 15.1% 55,995 15.7% 70,120 17.5%
3rd Qtr 70,472 19.9% 76,611 18.3% 81,335 18.3% 63,552 12.2%
4th Qtr 129,565 27.8% 152,138 28.5% 155,887 27.8% 171,474 25.0%
Year 273,067 20.0% 316,083 19.8% 334,887 19.6% 352,852 17.5%
6 Mos 73,030 13.4% 87,335 13.6% 97,666 13.9% 117,826 14.5%
9 Mos 143,502 16.0% 163,947 15.4% 179,001 15.6% 181,378 13.6%
</Table>
<Table>
<Caption>
8. TAXES (TAX RATE) (TAX RATE) (TAX RATE) (TAX RATE)
---------- ---------- ---------- ----------
1st Qtr 12,772 39.0% 14,447 38.5% 15,886 38.1% 18,390 38.5%
2nd Qtr 15,703 39.0% 18,953 38.1% 21,467 38.3% 27,232 38.8%
3rd Qtr 27,461 39.0% 29,336 38.3% 31,401 38.6% 23,640 37.2%
4th Qtr 50,531 39.0% 58,594 38.5% 61,304 39.3% 67,214 39.2%
Year 106,468 39.0% 121,329 38.4% 130,058 38.8% 136,476 38.7%
6 Mos 28,475 39.0% 33,400 38.2% 37,353 38.2% 45,622 38.7%
9 Mos 55,936 39.0% 62,736 38.3% 68,754 38.4% 69,262 38.2%
</Table>
ABERCROMBIE & FITCH
QUARTERLY FINANCIAL INFORMATION
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, RATIOS AND STORE DATA)
<Table>
<Caption>
PERIOD 2001 2002 2003 2004
RESTATED RESTATED RESTATED Q1, Q2, Q3 RESTATED
Q4 UNAUDITED
----------------------- ----------------------- ----------------------- -----------------------
9. Net Income (% OF SALES) (% OF SALES) (% OF SALES) (% OF SALES)
------------ ------------ ------------ ------------
1st Qtr 19,991 7.6% 23,104 7.4% 25,785 7.4% 29,316 7.1%
2nd Qtr 24,564 8.8% 30,831 9.4% 34,528 9.7% 42,888 10.7%
3rd Qtr 43,011 12.1% 47,275 11.3% 49,934 11.2% 39,912 7.7%
4th Qtr 79,034 16.9% 93,544 17.5% 94,583 16.9% 104,260 15.2%
Year 166,599 12.2% 194,754 12.2% 204,829 12.0% 216,376 10.7%
6 Mos 44,555 8.2% 53,935 8.4% 60,313 8.6% 72,204 8.9%
9 Mos 87,566 9.7% 101,211 9.5% 110,247 9.6% 112,116 8.4%
</Table>
<Table>
<Caption>
10. NET INCOME (% INCREASE) (% INCREASE) (% INCREASE) (% INCREASE)
1st Qtr 19,991 23.7% 23,104 15.6% 25,785 11.6% 29,316 13.7%
2nd Qtr 24,564 16.1% 30,831 25.5% 34,528 12.0% 42,888 24.2%
3rd Qtr 43,011 -1.3% 47,275 9.9% 49,934 5.6% 39,912 -20.1%
4th Qtr 79,034 2.4% 93,544 18.4% 94,583 1.1% 104,260 10.2%
Year 166,600 5.4% 194,754 16.9% 204,829 5.2% 216,376 5.6%
6 Mos 44,555 19.4% 53,935 21.1% 60,313 11.8% 72,204 19.7%
9 Mos 87,566 8.2% 101,211 15.6% 110,247 8.9% 112,116 1.7%
</Table>
<Table>
<Caption>
11. NET INCOME PER SHARE (% INCREASE) (% INCREASE) (% INCREASE) (% INCREASE)
1st Qtr $0.19 18.8% $0.23 21.1% $0.26 13.0% $0.30 15.4%
2nd Qtr $0.24 14.3% $0.30 25.0% $0.34 13.3% $0.44 29.4%
3rd Qtr $0.42 -2.3% $0.47 11.9% $0.50 6.4% $0.42 -16.0%
4th Qtr $0.78 2.6% $0.94 20.5% $0.97 3.2% $1.15 18.6%
Year $1.62 4.7% $1.94 19.8% $2.06 6.2% $2.28 10.7%
6 Mos $0.43 19.4% $0.53 23.3% $0.60 13.2% $0.74 23.3%
9 Mos $0.85 7.5% $1.00 17.6% $1.10 10.0% $1.16 5.5%
</Table>
ABERCROMBIE & FITCH
QUARTERLY FINANCIAL INFORMATION
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS, RATIOS AND STORE DATA)
<Table>
<Caption>
PERIOD 2001 2002 2003 2004
RESTATED RESTATED RESTATED Q1, Q2, Q3 RESTATED
Q4 UNAUDITED
------------------ ------------------ ------------------ -------------------
12. DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING
1st Qtr 102,885 102,130 99,835 96,872
2nd Qtr 104,020 101,465 100,128 97,590
3rd Qtr 101,692 99,568 99,102 95,351
4th Qtr 101,500 99,398 97,839 90,750
Year 102,524 100,631 99,580 95,110
6 Mos 103,453 101,879 100,542 97,118
9 Mos 102,866 100,994 100,095 96,522
</Table>
<Table>
<Caption>
13. ACTUAL SHARES OUTSTANDING - END OF PERIOD
1st Qtr 99,109 99,053 98,004 94,788
2nd Qtr 99,469 98,076 96,438 95,773
3rd Qtr 98,870 97,229 96,326 90,556
4th Qtr 98,873 97,269 94,607 86,040
</Table>
<Table>
<Caption>
14. NUMBER OF STORES - END OF PERIOD (% INCREASE) (% INCREASE) (% INCREASE) (% INCREASE)
1st Qtr 355 37.6% 507 42.8% 602 18.7% 706 17.3%
2nd Qtr 405 37.8% 533 31.6% 625 17.3% 727 16.3%
3rd Qtr 454 39.7% 560 23.3% 651 16.3% 764 17.4%
4th Qtr 491 38.7% 597 21.6% 700 17.3% 788 12.6%
Year 491 597 700 788
6 Mos 405 533 625 727
9 Mos 454 560 651 764
</Table>
<Table>
<Caption>
15. GROSS SQUARE FEET - END OF PERIOD (% INCREASE) (% INCREASE) (% INCREASE) (% INCREASE)
1st Qtr 2,856 28.2% 3,772 32.1% 4,392 16.4% 5,065 15.3%
2nd Qtr 3,142 27.1% 3,937 25.3% 4,538 15.3% 5,192 14.4%
3rd Qtr 3,448 29.7% 4,110 19.2% 4,709 14.6% 5,439 15.5%
4th Qtr 3,673 28.9% 4,358 18.7% 5,021 15.2% 5,591 11.4%
Year 3,673 4,358 5,021 5,591
6 Mos 3,142 3,937 4,538 5,192
9 Mos 3,448 4,110 4,709 5,439
</Table>