Abercrombie & Fitch Company · NYSE:ANF
Abercrombie & Fitch — Q3 2011 Earnings Presentation
17 slides from Abercrombie & Fitch's earnings presentation, Nov 21, 2011
Slide 1: Investor Presentation 2011 Third Quarter
Investor Presentation 2011 Third Quarter
Slide 2: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
2 SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 A&F cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this presentation or made by management or spokespeople of A&F involve ri
Slide 3: Q3 P&L Summary
Q3 P&L Summary Net Sales Cost of Goods Sold Gross Profit Operating Expense Other Operating Income, Net Operating Income Interest Expense, Net Income Before Taxes. Tax Expense Net Income Unaudited Unaudited % of % of 2011 Net Sales 2010 Net Sales $1,075,858 100.0% $885,778 100.0% 429,334 39.9% 321,34
Slide 4: Year-To-Date P&L Summary
Year-To-Date P&L Summary Unaudited Unaucited %of %ot 2011 Net Sales 2010 Net Sales Net Sales $2,829,292 100.0% $2,319,381 100.0% Cost of Goods Sold 1,056,087 31.3% 838,186 36.1% Gross Profit 1,773,225 62.1% 1,481,195, 63.9% Operating Expense 1,611,601 51.0% 1,398,477 60.3% Other Operating Income, Ne
Slide 5: Sales Analysis Versus Prior Year Sales Mix
5 Sales Analysis Versus Prior Year Sales Mix Sales Mix
Slide 6: Sales Growth Contribution
Sales Growth Contribution Third Quarter 2010 Net Sales $ 885,778 Foreign Exchange Impact (1, 4,893 Comparable Stores 52,850 ore 37,949 Non-Comparable Stores, Net 94,386 2011 Net Sales $1,075,856, ‘ooRepresents the impact of converting prior year sales at current year rates aoNew stores, nt of closur
Slide 7: Operating Expense
Operating Expense Third Quarter Store Occupancy « Al Other 1 Stores and Distribution Marketing, General & Administrative TOTAL Year Date Store Occupancy «ve All Other «a Stores and Distribution Marketing, General & Administrative TOTAL ‘%ot 2011 Net Sales $177,812 16.5% 283,871 26.4% 461,683 42.9% 1
Slide 8: Inventory Analysis
Inventory Analysis Inventory on Hand Inventory in Transit Total Inventory As of As of October 29, 2011 October 30, 2010 A $ 552,846 $ 437,702 + © 26.3% $ 126,495 $ 74120, + 10.7% $ 679,341 $ 511,822, + 32.7%
Slide 9: Share Repurchases
Share Repurchases FY 2011 FY 2010 Shares ‘Wverage Shares erage Repurchased Cost Cost Repurchased Cost Lost a 428 $ 25469 $ 59.40 : - - w 950.1 $ 6499 $ 67.78 : - - i) 150.0 $ 8835 $ 58.90 669.1 $ 23,207 $43.85 4 : : : 9126 $ 46951 $5145 TOTAL 15289 $ 98703 $6456 1581.7 $76,158 $48.15 Remaining share
Slide 10: Liquidity
Liquidity Cash and Cash Equivalents Credit Agreement: Borrowings Outstanding Letters of Credit “Net" Cash Position ARF $ ln As of October 29, 2011 488,341 63 488,278 As of October 30, 2010 $ 593,291 $ 57,192 $ 10,607 $ 525,492 fea] | HCo.
Slide 11: Q4 Outlook
11 Q4 Outlook Gross Margin: Similar erosion to Q3 Store Occupancy: Mid $180 millions All Other Stores and Distribution: Approximately flat as a percentage of sales to last year; includes accelerated depreciation of distribution center Marketing, General and Administrative: Approximately flat in doll
Slide 12: International Hollister Store Count - Cumulative
12 International Hollister Store Count - Cumulative
Slide 13: Q3 International Hollister Store Openings
13 Q3 International Hollister Store Openings
Slide 14: Confirmed Flagship Openings
14 Confirmed Flagship Openings
Slide 15: Appendix: EPS (Unaudited)
15 Appendix: EPS (Unaudited)
Slide 16: Appendix: Q3 Store Count Activity
16 Appendix: Q3 Store Count Activity Store Count - By Brand and Region
Slide 17: Appendix: Year-To-Date Store Count Activity
17 Appendix: Year-To-Date Store Count Activity Store Count - By Brand and Region