Abercrombie & Fitch Company · NYSE:ANF
Abercrombie & Fitch — Q1 2017 Earnings Presentation
11 slides from Abercrombie & Fitch's earnings presentation, May 30, 2017
Slide 1: Investor Presentation 2017 First Quarter
INVESTOR PRESENTATION 2017 FIRST 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: Q1 P&L Summary
3 Q1 P&L SUMMARY 2017 % OF NET SALES 2016 % OF NET SALES NET SALES $661,099 100.0% $685,483 100.0% GROSS PROFIT 398,925 60.3% 425,721 62.1% OPERATING EXPENSE 470,552 71.2% 483,565 70.5% OTHER OPERATING INCOME, NET (1,686) (0.3)% (2,933) (0.4)% OPERATING LOSS (69,941) (10.6)% (54,911) (8.0)% INTEREST
Slide 4: Q1 Sales Mix and Comparable Sales
4 * Hollister includes the company's Hollister and Gilly Hicks brands. Abercrombie includes the company's Abercrombie & Fitch and abercrombie kids brands. (1) Comparable sales are calculated on a constant currency basis. Sales include store and DTC sales. Q1 2017 SALES* INTERNATIONAL 38.1% UNITED ST
Slide 5: Comparable Sales Trend by Brand
5 * Comparable sales are calculated on a constant currency basis. Sales include store and DTC sales. (1) Hollister includes the company's Hollister and Gilly Hicks brands. (1) Abercrombie includes the company's Abercrombie & Fitch and abercrombie kids brands. COMPARABLE SALES TREND BY BRAND* HOLLIST
Slide 6: Q1 Operating Expense
6 Q1 OPERATING EXPENSE (1) Includes rent, other landlord charges, utilities, depreciation and other occupancy expense. (2) Includes selling payroll, store management and support, other store expense, direct-to-consumer expense, and distribution center costs. 2017 % OF NET SALES 2016 % OF NET SALES S
Slide 7: Diluted EPS Walk
7 DILUTED EPS WALK (1) The effect from foreign currency, calculated on a constant currency basis, is determined by applying current period exchange rates to prior year results and is net of the year-over-year impact from hedging. The per diluted share effect from foreign currency is calculated using
Slide 8: Q1 Store Openings
8 Q1 STORE OPENINGS BRAND CENTER CITY DATE DOMESTI C A&F Polaris Fashion Place Columbus, OH 2/17/17 Hollister Ka Makana Ali'i West Oahu, HI 3/17/17 OUTLE T A&F Outlet Shoppes at Laredo Laredo, TX 3/16/17
Slide 9: Q1 Store Count Activity
9 Q1 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 three international franchise store as of April 29, 2017 and
Slide 10: Outlook for Fiscal 2017
10 OUTLOOK FOR FISCAL 2017, THE COMPANY EXPECTS: • COMPARABLE SALES TO REMAIN CHALLENGING IN THE SECOND QUARTER, WITH TREND IMPROVEMENT IN THE SECOND HALF OF THE YEAR • CONTINUED ADVERSE IMPACT FROM FOREIGN CURRENCY ON SALES AND OPERATING INCOME • A GROSS MARGIN RATE DOWN SLIGHTLY TO LAST YEAR'S ADJ
Slide 11: Abercrombie Est. 1892
EST. 1892 Abercrombie