EX-99.2 3 q32021quarterlyhistory.htm EX-99.2

Abercrombie & Fitch Co.
Financial Information
(Unaudited)
(in thousands, except per share data, store data, and comparable sales data)
																								Fiscal 2020																														Fiscal 2021
						2017 (1)						2018						2019						Q1						Q2						Q3						Q4						2020						Q1						Q2						Q3						2021
Net sales						$	3,492,690					$	3,590,109					$	3,623,073					$	485,359					$	698,328					$	819,653					$	1,122,044					$	3,125,384					$	781,405					$	864,850					$	905,160					$	2,551,415
Cost of sales, exclusive of depreciation and amortization						1,408,848						1,430,193						1,472,155						221,214						274,720						295,220						443,025						1,234,179						286,271						301,365						328,916						916,552
Gross profit						2,083,842						2,159,916						2,150,918						264,145						423,608						524,433						679,019						1,891,205						495,134						563,485						576,244						1,634,863
Stores and distribution expense						1,540,032						1,536,216						1,551,243						322,124						310,370						346,263						412,827						1,391,584						316,608						325,935						351,804						994,347
Marketing, general and administrative expense						471,914						484,863						464,615						108,257						97,252						121,000						137,334						463,843						120,947						123,913						146,269						391,129
Flagship store exit charges (benefits)						2,393						5,806						47,257						(543)						(3,884)						(8,063)						854						(11,636)						(1,100)						(88)						11						(1,177)
Asset impairment, exclusive of flagship store exit charges						14,391						11,580						19,135						42,928						8,083						6,329						15,597						72,937						2,664						786						6,749						10,199
Other operating (income) loss, net						(16,938)						(5,915)						(1,400)						506						(2,356)						288						(3,492)						(5,054)						(1,418)						(1,848)						(1,320)						(4,586)
Operating income (loss)						72,050						127,366						70,068						(209,127)						14,143						58,616						115,899						(20,469)						57,433						114,787						72,731						244,951
Interest expense, net						16,889						10,999						7,737						3,371						7,098						8,808						8,997						28,274						8,606						11,275						7,270						27,151
Income (loss) before income taxes						55,161						116,367						62,331						(212,498)						7,045						49,808						106,902						(48,743)						48,827						103,512						65,461						217,800
Income tax expense (benefit)						44,636						37,559						17,371						31,533						1,253						5,779						21,646						60,211						6,121						(6,944)						16,383						15,560
Net income (loss)						10,525						78,808						44,960						(244,031)						5,792						44,029						85,256						(108,954)						42,706						110,456						49,078						202,240
Less: Net income attributable to noncontrolling interests						3,431						4,267						5,602						117						328						1,758						2,864						5,067						938						1,956						1,845						4,739
Net income (loss) attributable to Abercrombie & Fitch Co.						$	7,094					$	74,541					$	39,358					$	(244,148)					$	5,464					$	42,271					$	82,392					$	(114,021)					$	41,768					$	108,500					$	47,233					$	197,501

																								Fiscal 2020																														Fiscal 2021
						2017 (1)						2018						2019						Q1						Q2						Q3						Q4						2020						Q1						Q2						Q3						2021
Net income (loss) per share attributable to Abercrombie & Fitch Co.:
Basic						$	0.10					$	1.11					$	0.61					$	(3.90)					$	0.09					$	0.68					$	1.32					$	(1.82)					$	0.67					$	1.77					$	0.80					$	3.24
Diluted						$	0.10					$	1.08					$	0.60					$	(3.90)					$	0.09					$	0.66					$	1.27					$	(1.82)					$	0.64					$	1.69					$	0.77					$	3.10
Weighted-average shares outstanding:
Basic						68,391						67,350						64,428						62,541						62,527						62,558						62,581						62,551						62,380						61,428						58,796						60,879
Diluted						69,403						69,137						65,778						62,541						63,286						63,877						64,788						62,551						65,305						64,136						61,465						63,770
Hollister comparable sales (2) (3)						8		%				5		%				(1)		%				Not provided						Not provided						Not provided						Not provided						Not provided						Not provided						Not provided						Not provided						Not provided
Abercrombie comparable sales (2) (4)						(2)		%				1		%				3		%				Not provided						Not provided						Not provided						Not provided						Not provided						Not provided						Not provided						Not provided						Not provided
Comparable sales (2)						3		%				3		%				1		%				Not provided						Not provided						Not provided						Not provided						Not provided						Not provided						Not provided						Not provided						Not provided
Shares outstanding						68,195						66,227						62,786						62,284						62,365						62,384						62,399						62,399						61,935						59,692						57,037						57,037
Number of stores - end of period						868						861						857						853						854						853						735						735						731						733						735						735
Gross square feet - end of period						6,710						6,566						6,314						6,285						6,296						6,235						5,232						5,232						5,189						5,150						5,159						5,159
(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. The Company did not provide comparable sales results for fiscal 2020 or fiscal 2021 due to widespread temporary store closures as a result of COVID-19.
(3) Hollister includes the Company's Hollister, Gilly Hicks, and Social Tourist brands.
(4) Abercrombie includes the Company's Abercrombie & Fitch and abercrombie kids brands.

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