Abercrombie & Fitch Company · NYSE:ANF
Abercrombie & Fitch — Q1 2016 Earnings Presentation
12 slides from Abercrombie & Fitch's earnings presentation, Jun 1, 2016
Slide 1: Investor Presentation 2016 First Quarter
INVESTOR PRESENTATION 2016 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 * The Q1 P&L Summary for 2015 is presented on an adjusted non-GAAP basis, and excludes the effect of certain items set out on page 4. 2016 % OF NET SALES 2015* % OF NET SALES NET SALES $685,483 100.0% $709,422 100.0% GROSS PROFIT 425,721 62.1% 438,410 61.8% OPERATING EXPENSE 483,565
Slide 4: Excluded Items (Pre-Tax)
4 EXCLUDED ITEMS (PRE-TAX) Q1 2016 Q1 2015 INVENTORY WRITE-DOWN $— $26,861 ASSET IMPAIRMENT, LEASE TERMINATION AND STORE CLOSURE CHARGES — 10,112 PROFIT IMPROVEMENT INITIATIVE — 2,479 GILLY HICKS RESTRUCTURING BENEFIT — (1,598) TOTAL $— $37,854
Slide 5: Q1 2016 Sales and Comparable Sales
5 * 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. Q1 2016 SALES COMPARABLE SALES* Q1 TOTAL COMPANY (4)% BRAND: ABERCROMBIE (1) (8)% HOLLISTER 0% GEOGRAPHY: UNITE
Slide 6: Q1 Operating Expense
6 Q1 OPERATING EXPENSE * Q1 Operating Expense for fiscal 2015 is presented on an adjusted non-GAAP basis, and excludes the effect of certain items set out of page 4. (1) Includes rent, other landlord charges, utilities, depreciation and other occupancy expense. (2) Includes selling payroll, store ma
Slide 7: Share Repurchases
7 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 8: Q1 Store Openings
8 Q1 STORE OPENINGS BRAND CENTER CITY DATE INTERN ATIONA L Hollister Parc Central Guangzhou, China 3/26/2016 Hollister Midrif City Centre Dubai, UAE 4/14/2016 OUTLE T A&F Leesburg Premium Outlets Leesburg, VA 4/23/2016
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 one international franchise store as of April 30, 2016 and J
Slide 10: Strategic Initiatives
10 STRATEGIC INITIATIVES CUSTOMER CENTRICITY OPTIMIZE BRAND REACH COMPELLING ASSORTMENTS OPTI MIZ E BRA ND REA CH CONTINUOUS PROFIT IMPROVEMENT BRAND POSITIONING ORGANIZE TO SUCCEED
Slide 11: Full Year Outlook Updates
11 FULL YEAR OUTLOOK UPDATES* FOR FISCAL 2016, WITH REFERENCES TO LAST YEAR BEING ON AN ADJUSTED NON-GAAP BASIS, THE COMPANY NOW EXPECTS: • COMPARABLE SALES TO REMAIN CHALLENGING IN THE SECOND QUARTER, BUT TO IMPROVE IN THE SECOND HALF OF THE YEAR • ADVERSE EFFECTS FROM FOREIGN CURRENCY ON SALES OF
Slide 12: Abercrombie Est. 1892
EST. 1892 Abercrombie