Abercrombie & Fitch Company · NYSE:ANF
Abercrombie & Fitch — Q4 2016 Earnings Presentation
13 slides from Abercrombie & Fitch's earnings presentation, Mar 3, 2017
Slide 1: Investor Presentation 2016 Fourth Quarter
INVESTOR PRESENTATION 2016 FOURTH 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: Q4 P&L Summary
3 Q4 P&L SUMMARY * The adjusted non-GAAP Q4 P&L Summary for fiscal 2015 excludes the effect of certain items set out on page 5. GAAP 2016 % OF NET SALES GAAP 2015 % OF NET SALES NON-GAAP 2015* % OF NET SALES NET SALES $1,036,363 100.0% $1,112,930 100.0% $1,112,930 100.0% GROSS PROFIT 615,001 59.3% 6
Slide 4: Adjusted Full Year P&L Summary
4 ADJUSTED FULL YEAR P&L SUMMARY* * The adjusted non-GAAP Full Year P&L Summary for fiscal 2016 and fiscal 2015 excludes the effect of certain items set out on page 5. 2016 % OF NET SALES 2015 % OF NET SALES NET SALES $3,326,740 100.0% $3,518,680 100.0% GROSS PROFIT 2,028,568 61.0% 2,178,190 61.9% O
Slide 5: Excluded Items (Pre-Tax)
5 EXCLUDED ITEMS (PRE-TAX) 2016 Q1 Q2 Q3 Q4 FULL YEAR CLAIMS SETTLEMENT BENEFITS $— $(12,282) $— $— $(12,282) ASSET IMPAIRMENT — 6,356 — — 6,356 INDEMNIFICATION RECOVERY — — (6,000) — (6,000) TOTAL $— $(5,926) $(6,000) $— $(11,926) 2015 Q1 Q2 Q3 Q4 FULL YEAR INVENTORY WRITE-DOWN (RECOVERY) $26,861 $
Slide 6: Q4 2016 Comparable Sales
6 * Comparable sales are calculated on a constant currency basis. Sales include store and DTC sales. (1) Abercrombie includes the company's Abercrombie & Fitch and abercrombie kids brands. Q4 2016 COMPARABLE SALES* Q1 Q2 Q3 Q4 YTD TOTAL COMPANY (4)% (4)% (6)% (5)% (5)% BRAND: ABERCROMBIE (1) (8)% (7
Slide 7: Fiscal 2016 Sales Mix
7 * Abercrombie includes the company's Abercrombie & Fitch and abercrombie kids brands. FISCAL 2016 SALES MIX* Q4 ABERCROMBIE 42.7% HOLLISTER 57.3% FULL YEAR ABERCROMBIE 44.7% HOLLISTER55.3% BRAN D INTERNATIONAL 33.6% UNITED STATES 66.4% INTERNATIONAL 36.2% UNITED STATES 63.8% GEOGRAPH Y
Slide 8: Q4 Operating Expense
8 Q4 OPERATING EXPENSE * The adjusted non-GAAP Q4 Operating Expense for fiscal 2015 excludes the effect of certain items set out on page 5. (1) Includes rent, other landlord charges, utilities, depreciation and other occupancy expense. (2) Includes selling payroll, store management and support, othe
Slide 9: Share Repurchases
9 SHARE REPURCHASES FY 2016 FY 2015 SHARES REPURCHASED COST AVERAGE COST SHARES REPURCHASED COST AVERAGE COST Q1 — — — — — — Q2 — — — — — — Q3 — — — 2,460.5 $50,029 $20.33 Q4 — — — — — — FULL YEAR — — — 2,460.5 $50,029 $20.33
Slide 10: Q4 Store Openings
10 Q4 STORE OPENINGS BRAND CENTER CITY DATE DOMESTI C A&F International Market Place Honolulu, HI 12/16/2016 INTERN ATIONA L A&F Tianyi Square Ningbo, China 11/18/2016 Hollister Paradise Walk Chongqing, China 11/18/2016 A&F Taikoo Li Sanlitun Beijing, China 12/2/2016 A&F Shuncheng Mall Kunming, Chin
Slide 11: Q4 Store Count Activity
11 Q4 STORE COUNT ACTIVITY (1) Abercrombie includes the company's Abercrombie & Fitch and abercrombie kids brands. Locations with abercrombie kids carveouts within Abercrombie & Fitch stores are represented as a single store count. Excludes one international franchise store as of January 28, 2017. (
Slide 12: Outlook for Fiscal 2017
12 OUTLOOK FOR FISCAL 2017, THE COMPANY EXPECTS: • COMPARABLE SALES TO IMPROVE FOR THE FULL YEAR, BUT TO REMAIN CHALLENGING FOR THE FIRST HALF, WITH HOLLISTER, ITS LARGEST BRAND, EXPECTED TO MAINTAIN OR IMPROVE ITS COMPARABLE SALES TREND AND ABERCROMBIE TO IMPROVE THROUGHOUT THE YEAR • ADVERSE EFFEC
Slide 13: Est. 1892 Abercrombie
EST. 1892 Abercrombie