Abercrombie & Fitch Company · NYSE:ANF
Abercrombie & Fitch — Q3 2010 Earnings Presentation
15 slides from Abercrombie & Fitch's earnings presentation, Nov 18, 2010
Slide 1: Investor Presentation 2010 Third Quarter
Investor Presentation2010 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 of A&F involve risks and uncertai
Slide 3: Q3 P&L Summary
Q3 P&L Summary Unaued Unauatet ot sat 2010 Not sales 2008 Nat ales Net aes $6578 1000% $153504 000% ost of Gods Sold ss ___ 383% nose) __ 35.9% Aros Prot suse 637% 43087 641% operating Enense an 551% arms 580% ‘ther operatin Income, Net css 02% (1s09) 2% peratng Income nan 48% 1461 63% Hot Interest
Slide 4: Year-to-Date P&L Summary
Year-to-Date P&L Summary Unaucited Unauitted sot %ot 2010 Net sales 2009 Net Sales Net sates $ 2319;381 100.0% $ 1,902695 100.0% Cost of Goods Sold 38,186 36.1% 103518 35.3% Gross Profit 1.481,195 63.0% 1.209055 4.1% erating Expense* 1.398.477 609% 1212846 53.0% Other Operating Income, Het son 0.2%
Slide 5: Sales Analysis Versus Prior Year Sales Mix
5 Sales Analysis Versus Prior Year Sales Mix Sales Mix
Slide 6: Gross Margin
Gross Margin 2010 2009 A bps w 8 63.7% — 64.1% (40) Ym 63.9% 64.7% (80) » Rounded based on reported percentages
Slide 7: Operating Expense
Operating Expense ot ot 2010 Net Sales 2009___Net Sales 2. bpsie Third Quarter Store Occupancy $ 165.077 186% $189,111 211% (250) NLOther 200058 24.8% 25.2% (40) ‘Stores and Distribution 385,135 43.5% 464% (290) Marketing, General & Administrative 102.612 11.6% 119% (10) TOTAL $ 47747 51%. 580% (290
Slide 8: Inventory Days On Hand Excluding In-Transit
8 Inventory Days On Hand Excluding In-Transit Q3 ending inventory, less in-transit, divided by trailing quarter average daily COGS
Slide 9: Liquidity and Capex
Liquidity and Capex October 30, 2010 October 31, 2009 Cash and Cash Equivalents $818 million $467 million Credit Agreement: Borrowings $57 milion $51 million Outstanding Letters of Credit $11 milion $45 milion 2010 Projected 2009 Actual Full Year Capital Expenditures ~ $190 milion $176 million Store
Slide 10: Share Repurchases
Share Repurchases Third Quarter Repurchases Year-To-Date Repurchases Remaining authorized for repurchase as of quarter end ARF | Shares Cost 669,100 © $ ©=— 29,207 669,100 $ 29,207 10,677,800 Average Cost $ $ 43.65 43.65
Slide 11: Q4 Outlook
11 Q4 Outlook Store OccupancyHigh $160 millions, excluding store closure costs and potential impairments All Other Stores and DistributionModest leverage benefit versus last year Marketing, General & Administrative Expense Slightly above Q3 2010 dollars Gross Margin Similar erosion to Q3 2010 Tax Ra
Slide 12: International Store Openings - Cumulative
13 International Store Openings - Cumulative
Slide 13: Appendix: EPS (Unaudited)
14 Appendix: EPS (Unaudited)
Slide 14: Appendix: Q3 Store Count Activity
15 Appendix: Q3 Store Count Activity Store Count - By Brand and Region
Slide 15: Appendix: Year-To-Date Store Count Activity
16 Appendix: Year-To-Date Store Count Activity Store Count - By Brand and Region