Abercrombie & Fitch Company · NYSE:ANF
Abercrombie & Fitch — Q2 2010 Earnings Presentation
16 slides from Abercrombie & Fitch's earnings presentation, Aug 18, 2010
Slide 1: Investor Presentation 2010 Second Quarter
Investor Presentation 2010 Second 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: Q2 P&L Summary
Q2 P&L Summary Net Sales Cost of Goods Sold Gross Profit Operating Expense * Other Operating Income, Net Operating Income Not Interest Income from Continuing Operations Before Taxes Tax Expense for Continuing Operations Net Income (Loss) from Continuing Operations Net Loss from Discontinued Operatio
Slide 4: Year-to-Date P&L Summary
Year-to-Date P&L Summary Unaudited Unaudited %ot %ot 2010 Net Sales 2009 Not Sales Nt Sales S 1433,602 100.0% $1,238,951 100.0% Cost of Goods Sold 516,838 36.1% 432,982 4.9% Gross Profit 916,764 63.9% 805,969 65.1% Operating Expense * 10,730 635% 835617 614% ‘ther Operating Income, Net (2814) 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 Analysis
Gross Margin Analysis 2010 2009 bps a2 65.1% 66.6% (150) YTD 63.9% 65.1% (120) ) Rounded based on reported percentages
Slide 7: Operating Expense
Operating Expense %ot %ot 2010 Not Sales 2009 Net Sales 2. bpso Second Quarter Store Occupancy wx $161,803 217% «= $188,629 24.4% (210) All Other» 202679 2.2% 176867 21.1% (0) Stores and Distribution 364482 48.9% 392,298 = 52.1% (20) Marketing, General & Administrative 95.206 12.8% 86,666 13.6% (@0)
Slide 8: Q3 Operating Expense Outlook
8 Q3 Operating Expense Outlook Store Occupancy Approximately $168 million All Other Stores and Distribution Approximately flat to 2009's 25.2% rate of sales Marketing, General & Administrative Expense Mid-teen percentage increase vs. 2009
Slide 9: Confirmed Flagship Openings
9 Confirmed Flagship Openings
Slide 10: International Store Openings - Cumulative
10 International Store Openings - Cumulative
Slide 11: Domestic Store Closures
11 Domestic Store Closures 2010 - Approximately 60 2011 - Approximately 50 $2.2 million Q2 impairment charge Additional expected costs related to lease buyouts, de- branding, and other
Slide 12: Inventory Change Analysis
12 Inventory Change Analysis* * Amounts expressed in millions and represent contribution to overall inventory increase of $155 million versus prior year
Slide 13: Appendix: EPS (Unaudited)
14 Appendix: EPS (Unaudited)
Slide 14: Appendix: Q2 Store Count Activity
15 Appendix: Q2 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
Slide 16: Appendix: Guidance Summary
17 Appendix: Guidance Summary S&D: Q3 Occupancy approximately $168 million Q3 All Other S&D approximately flat to 2009's 25.2% rate of sales M,G &A: Mid-teen percentage increase in Q3 Tax Rate: Full year effective rate projected at approximately 37%