(Exact name of registrant as specified in its charter) |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||||||||
(Address of principal executive offices) | (Zip Code) | |||||||||||||||||||
Registrant’s telephone number, including area code: |
Not Applicable | ||
(Former name or former address, if changed since last report) |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||||||||
Exhibit No. | Description | |||||||
99.1 | ||||||||
99.2 | ||||||||
99.3 | ||||||||
99.4 | ||||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Abercrombie & Fitch Co. | |||||||||||
Dated: August 24, 2023 | By: | /s/ Scott D. Lipesky | |||||||||
Scott D. Lipesky | |||||||||||
Executive Vice President, Chief Financial Officer and Chief Operating Officer |
2023 | 2022 | |||||||||||||
GAAP | $ | 1.10 | $ | (0.33) | ||||||||||
Excluded items, net of tax effect (1) | — | (0.03) | ||||||||||||
Adjusted non-GAAP | $ | 1.10 | $ | (0.30) | ||||||||||
Impact from changes in foreign currency exchange rates (2) | — | (0.02) | ||||||||||||
Adjusted non-GAAP constant currency | $ | 1.10 | $ | (0.32) |
Segment reorganization on geographic basis |
Net Sales |
Net sales by segment: (1) | 2023 | 2022 | 1 YR % Change | Comparable sales (2) | |||||||||||||||||||
Americas | $ | 731,427 | $ | 613,244 | 19% | 14% | |||||||||||||||||
EMEA | 171,962 | 164,827 | 4% | 6% | |||||||||||||||||||
APAC | 31,956 | 27,020 | 18% | 26% | |||||||||||||||||||
Total company | $ | 935,345 | $ | 805,091 | 16% | 13% | |||||||||||||||||
(in thousands) | 2023 | 2022 | 1 YR % Change | Comparable sales (2) | |||||||||||||||||||
Net sales by brand: | |||||||||||||||||||||||
Abercrombie (3) | 462,711 | 368,157 | 26% | 23% | |||||||||||||||||||
Hollister (4) | $ | 472,634 | $ | 436,934 | 8% | 5% | |||||||||||||||||
Total company | $ | 935,345 | $ | 805,091 | 16% | 13% |
Financial Position and Liquidity |
Cash Flow and Capital Allocation |
Fiscal 2023 Full Year Outlook |
Fiscal 2023 Third Quarter Outlook |
Conference Call |
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 |
Other Information |
About Abercrombie & Fitch Co. |
Investor Contact: | Media Contact: | |||||||
Mo Gupta | Kate Wagner | |||||||
Abercrombie & Fitch Co. | Abercrombie & Fitch Co. | |||||||
(614) 283-6751 | (614) 283-6192 | |||||||
Investor_Relations@anfcorp.com | Public_Relations@anfcorp.com |
Abercrombie & Fitch Co. | |||||||||||||||||||||||
Condensed Consolidated Statements of Operations | |||||||||||||||||||||||
(in thousands, except per share data) | |||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||
Thirteen Weeks Ended | Thirteen Weeks Ended | ||||||||||||||||||||||
July 29, 2023 | % of Net Sales | July 30, 2022 | % of Net Sales | ||||||||||||||||||||
Net sales | $ | 935,345 | 100.0 | % | $ | 805,091 | 100.0 | % | |||||||||||||||
Cost of sales, exclusive of depreciation and amortization | 350,965 | 37.5 | % | 339,200 | 42.1 | % | |||||||||||||||||
Gross profit | 584,380 | 62.5 | % | 465,891 | 57.9 | % | |||||||||||||||||
Stores and distribution expense | 352,730 | 37.7 | % | 340,791 | 42.3 | % | |||||||||||||||||
Marketing, general and administrative expense | 144,502 | 15.4 | % | 124,168 | 15.4 | % | |||||||||||||||||
Asset impairment | — | — | % | 2,170 | 0.3 | % | |||||||||||||||||
Other operating (income) loss, net | (2,694) | (0.3) | % | 953 | 0.1 | % | |||||||||||||||||
Operating income (loss) | 89,842 | 9.6 | % | (2,191) | (0.3) | % | |||||||||||||||||
Interest expense, net | 1,097 | 0.1 | % | 6,917 | 0.9 | % | |||||||||||||||||
Income (loss) before income taxes | 88,745 | 9.5 | % | (9,108) | (1.1) | % | |||||||||||||||||
Income tax expense | 30,014 | 3.2 | % | 5,634 | 0.7 | % | |||||||||||||||||
Net income (loss) | 58,731 | 6.3 | % | (14,742) | (1.8) | % | |||||||||||||||||
Less: Net income attributable to noncontrolling interests | 1,837 | 0.2 | % | 2,092 | 0.3 | % | |||||||||||||||||
Net income (loss) attributable to A&F | $ | 56,894 | 6.1 | % | $ | (16,834) | (2.1) | % | |||||||||||||||
Net income (loss) per share attributable to A&F | |||||||||||||||||||||||
Basic | $ | 1.13 | $ | (0.33) | |||||||||||||||||||
Diluted | $ | 1.10 | $ | (0.33) | |||||||||||||||||||
Weighted-average shares outstanding: | |||||||||||||||||||||||
Basic | 50,322 | 50,441 | |||||||||||||||||||||
Diluted | 51,548 | 50,441 | |||||||||||||||||||||
Abercrombie & Fitch Co. | |||||||||||||||||||||||
Condensed Consolidated Statements of Operations | |||||||||||||||||||||||
(in thousands, except per share data) | |||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||
Twenty-Six Weeks Ended | Twenty-Six Weeks Ended | ||||||||||||||||||||||
July 29, 2023 | % of Net Sales | July 30, 2022 | % of Net Sales | ||||||||||||||||||||
Net sales | $ | 1,771,339 | 100.0 | % | $ | 1,617,853 | 100.0 | % | |||||||||||||||
Cost of sales, exclusive of depreciation and amortization | 677,165 | 38.2 | % | 702,416 | 43.4 | % | |||||||||||||||||
Gross profit | 1,094,174 | 61.8 | % | 915,437 | 56.6 | % | |||||||||||||||||
Stores and distribution expense | 684,343 | 38.6 | % | 678,334 | 41.9 | % | |||||||||||||||||
Marketing, general and administrative expense | 287,133 | 16.2 | % | 246,317 | 15.2 | % | |||||||||||||||||
Asset impairment | 4,436 | 0.3 | % | 5,592 | 0.3 | % | |||||||||||||||||
Other operating income, net | (5,588) | (0.3) | % | (2,889) | (0.2) | % | |||||||||||||||||
Operating income (loss) | 123,850 | 7.0 | % | (11,917) | (0.7) | % | |||||||||||||||||
Interest expense, net | 4,540 | 0.3 | % | 14,224 | 0.9 | % | |||||||||||||||||
Income (loss) before income taxes | 119,310 | 6.7 | % | (26,141) | (1.6) | % | |||||||||||||||||
Income tax expense | 42,732 | 2.4 | % | 3,447 | 0.2 | % | |||||||||||||||||
Net income (loss) | 76,578 | 4.3 | % | (29,588) | (1.8) | % | |||||||||||||||||
Less: Net income attributable to noncontrolling interests | 3,113 | 0.2 | % | 3,715 | 0.2 | % | |||||||||||||||||
Net income (loss) attributable to A&F. | $ | 73,465 | 4.1 | % | $ | (33,303) | (2.1) | % | |||||||||||||||
Net income (loss) per share attributable to A&F | |||||||||||||||||||||||
Basic | $ | 1.47 | $ | (0.65) | |||||||||||||||||||
Diluted | $ | 1.43 | $ | (0.65) | |||||||||||||||||||
Weighted-average shares outstanding: | |||||||||||||||||||||||
Basic | 49,952 | 51,262 | |||||||||||||||||||||
Diluted | 51,535 | 51,262 | |||||||||||||||||||||
Abercrombie & Fitch Co. | |||||||||||||||||
Schedule of Non-GAAP Financial Measures | |||||||||||||||||
Twenty-Six Weeks Ended July 29, 2023 | |||||||||||||||||
(in thousands, except per share data) | |||||||||||||||||
(Unaudited) | |||||||||||||||||
GAAP (1) | Excluded items | Adjusted non-GAAP | |||||||||||||||
Asset impairment (2) | $ | 4,436 | $ | 4,436 | $ | — | |||||||||||
Operating income | 123,850 | (4,436) | 128,286 | ||||||||||||||
Income before income taxes | 119,310 | (4,436) | 123,746 | ||||||||||||||
Income tax expense (3) | 42,732 | (1,207) | 43,939 | ||||||||||||||
Net income attributable to A&F | $ | 73,465 | $ | (3,229) | $ | 76,694 | |||||||||||
Net income per diluted share attributable to A&F | $ | 1.43 | $ | (0.06) | $ | 1.49 | |||||||||||
Diluted weighted-average shares outstanding: | 51,535 | 51,535 |
Abercrombie & Fitch Co. | |||||||||||||||||
Schedule of Non-GAAP Financial Measures | |||||||||||||||||
Twenty-Six Weeks Ended July 30, 2022 | |||||||||||||||||
(in thousands, except per share data) | |||||||||||||||||
(Unaudited) | |||||||||||||||||
GAAP (1) | Excluded items | Adjusted non-GAAP | |||||||||||||||
Asset impairment (2) | $ | 5,592 | $ | 5,592 | $ | — | |||||||||||
Operating loss | (11,917) | (5,592) | (6,325) | ||||||||||||||
Loss before income taxes | (26,141) | (5,592) | (20,549) | ||||||||||||||
Income tax expense (3) | 3,447 | (1,529) | 4,976 | ||||||||||||||
Net loss attributable to A&F | $ | (33,303) | $ | (4,063) | $ | (29,240) | |||||||||||
Net loss per diluted share attributable to A&F | $ | (0.65) | $ | (0.08) | $ | (0.57) | |||||||||||
Diluted weighted-average shares outstanding: | 51,262 | 51,262 |
Abercrombie & Fitch Co. | |||||||||||||||||
Reconciliation of Constant Currency Financial Measures | |||||||||||||||||
Thirteen Weeks Ended July 29, 2023 and July 30, 2022 | |||||||||||||||||
(in thousands, except percentage and basis point changes and per share data) | |||||||||||||||||
(Unaudited) | |||||||||||||||||
2023 | 2022 | % Change | |||||||||||||||
Net sales | |||||||||||||||||
GAAP (1) | $ | 935,345 | $ | 805,091 | 16% | ||||||||||||
Impact from changes in foreign currency exchange rates (2) | — | 2,873 | —% | ||||||||||||||
Net sales on a constant currency basis | $ | 935,345 | $ | 807,964 | 16% | ||||||||||||
Gross profit | 2023 | 2022 | BPS Change (3) | ||||||||||||||
GAAP (1) | $ | 584,380 | $ | 465,891 | 460 | ||||||||||||
Impact from changes in foreign currency exchange rates (2) | — | (2,977) | 60 | ||||||||||||||
Gross profit on a constant currency basis | $ | 584,380 | $ | 462,914 | 520 | ||||||||||||
Operating income (loss) | 2023 | 2022 | BPS Change (3) | ||||||||||||||
GAAP (1) | $ | 89,842 | $ | (2,191) | 990 | ||||||||||||
Excluded items (4) | — | (2,170) | 30 | ||||||||||||||
Adjusted non-GAAP | $ | 89,842 | $ | (21) | 960 | ||||||||||||
Impact from changes in foreign currency exchange rates (2) | — | (971) | 10 | ||||||||||||||
Adjusted non-GAAP constant currency basis | $ | 89,842 | $ | (992) | 970 | ||||||||||||
Net income (loss) attributable to A&F | 2023 | 2022 | $ Change | ||||||||||||||
GAAP (1) | $ | 1.10 | $ | (0.33) | $1.43 | ||||||||||||
Excluded items, net of tax (4) | — | (0.03) | 0.03 | ||||||||||||||
Adjusted non-GAAP | $ | 1.10 | $ | (0.30) | $1.40 | ||||||||||||
Impact from changes in foreign currency exchange rates (2) | — | (0.02) | 0.02 | ||||||||||||||
Adjusted non-GAAP constant currency basis | $ | 1.10 | $ | (0.32) | $1.42 |
Abercrombie & Fitch Co. | ||||||||||||||||||||||||||
Reconciliation of Constant Currency Net Sales by Geography and Brand | ||||||||||||||||||||||||||
Thirteen Weeks Ended July 29, 2023 and July 30, 2022 | ||||||||||||||||||||||||||
(in thousands, except percentage changes) | ||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||
2023 | 2022 | GAAP % Change | Non-GAAP Constant Currency Basis % Change | |||||||||||||||||||||||
GAAP | GAAP | Impact From Changes In Foreign Currency Exchanges Rates (1) | Non-GAAP Constant Currency Basis | |||||||||||||||||||||||
Net sales by segment: (2) | ||||||||||||||||||||||||||
Americas | $ | 731,427 | $ | 613,244 | $ | (1,174) | $ | 612,070 | 19% | 19% | ||||||||||||||||
EMEA | 171,962 | 164,827 | 5,306 | 170,133 | 4% | 1% | ||||||||||||||||||||
APAC | 31,956 | 27,020 | (1,259) | 25,761 | 18% | 24% | ||||||||||||||||||||
Total company | $ | 935,345 | $ | 805,091 | $ | 2,873 | $ | 807,964 | 16% | 16% | ||||||||||||||||
2023 | 2022 | GAAP % Change | Non-GAAP Constant Currency Basis % Change | |||||||||||||||||||||||
GAAP | GAAP | Impact From Changes In Foreign Currency Exchanges Rates (1) | Non-GAAP Constant Currency Basis | |||||||||||||||||||||||
Net sales by brand: | ||||||||||||||||||||||||||
Abercrombie (3) | 462,711 | 368,157 | (71) | 368,086 | 26% | 26% | ||||||||||||||||||||
Hollister (4) | $ | 472,634 | $ | 436,934 | $ | 2,944 | $ | 439,878 | 8% | 7% | ||||||||||||||||
Total company | $ | 935,345 | $ | 805,091 | $ | 2,873 | $ | 807,964 | 16% | 16% |
Abercrombie & Fitch Co. | |||||||||||||||||
Condensed Consolidated Balance Sheets | |||||||||||||||||
(in thousands) | |||||||||||||||||
(Unaudited) | |||||||||||||||||
July 29, 2023 | January 28, 2023 | July 30, 2022 | |||||||||||||||
Assets | |||||||||||||||||
Current assets: | |||||||||||||||||
Cash and equivalents | $ | 617,339 | $ | 517,602 | $ | 369,957 | |||||||||||
Receivables | 112,597 | 104,506 | 79,820 | ||||||||||||||
Inventories | 493,479 | 505,621 | 708,024 | ||||||||||||||
Other current assets | 87,850 | 100,289 | 104,887 | ||||||||||||||
Total current assets | 1,311,265 | 1,228,018 | 1,262,688 | ||||||||||||||
Property and equipment, net | 553,680 | 551,585 | 511,181 | ||||||||||||||
Operating lease right-of-use assets | 714,977 | 723,550 | 740,627 | ||||||||||||||
Other assets | 216,792 | 209,947 | 219,598 | ||||||||||||||
Total assets | $ | 2,796,714 | $ | 2,713,100 | $ | 2,734,094 | |||||||||||
Liabilities and stockholders’ equity | |||||||||||||||||
Current liabilities: | |||||||||||||||||
Accounts payable | $ | 323,197 | $ | 258,895 | $ | 408,297 | |||||||||||
Accrued expenses | 375,544 | 413,303 | 342,690 | ||||||||||||||
Short-term portion of operating lease liabilities | 191,700 | 213,979 | 202,699 | ||||||||||||||
Income taxes payable | 46,039 | 16,023 | 5,582 | ||||||||||||||
Total current liabilities | 936,480 | 902,200 | 959,268 | ||||||||||||||
Long-term liabilities: | |||||||||||||||||
Long-term portion of operating lease liabilities | $ | 692,046 | $ | 713,361 | $ | 714,265 | |||||||||||
Long-term borrowings, net | 297,385 | 296,852 | 304,219 | ||||||||||||||
Other liabilities | 92,019 | 94,118 | 83,415 | ||||||||||||||
Total long-term liabilities | 1,081,450 | 1,104,331 | 1,101,899 | ||||||||||||||
Total Abercrombie & Fitch Co. stockholders’ equity | 768,306 | 694,841 | 661,788 | ||||||||||||||
Noncontrolling interests | 10,478 | 11,728 | 11,139 | ||||||||||||||
Total stockholders’ equity | 778,784 | 706,569 | 672,927 | ||||||||||||||
Total liabilities and stockholders’ equity | $ | 2,796,714 | $ | 2,713,100 | $ | 2,734,094 |
Abercrombie & Fitch Co. | |||||||||||
Condensed Consolidated Statements of Cash Flows | |||||||||||
(in thousands, except per share data) | |||||||||||
(Unaudited) | |||||||||||
Twenty-Six Weeks Ended | |||||||||||
July 29, 2023 | July 30, 2022 | ||||||||||
Operating activities | |||||||||||
Net cash provided by (used for) operating activities | $ | 216,328 | $ | (259,733) | |||||||
Investing activities | |||||||||||
Purchases of property and equipment | $ | (89,780) | $ | (59,582) | |||||||
Proceeds from sale of property and equipment | — | 7,972 | |||||||||
Net cash used for investing activities | $ | (89,780) | $ | (51,610) | |||||||
Financing activities | |||||||||||
Payment of debt modification costs and fees | (17) | — | |||||||||
Purchases of common stock | — | (117,775) | |||||||||
Other financing activities | (23,325) | (17,649) | |||||||||
Net cash used for financing activities | $ | (23,342) | $ | (135,424) | |||||||
Effect of foreign currency exchange rates on cash | $ | (3,672) | $ | (7,567) | |||||||
Net increase (decrease) in cash and equivalents, and restricted cash and equivalents | $ | 99,534 | $ | (454,334) | |||||||
Cash and equivalents, and restricted cash and equivalents, beginning of period | $ | 527,569 | $ | 834,368 | |||||||
Cash and equivalents, and restricted cash and equivalents, end of period | $ | 627,103 | $ | 380,034 |
Abercrombie & Fitch Co. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands, except per share data) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Fiscal 2022 | Fiscal 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2019 | 2020 | 2021 | Q1 | Q2 | Q3 | Q4 | 2022 | Q1 | Q2 | 2023 | |||||||||||||||||||||||||||||||||||||||||||
Net sales | $ | 3,623,073 | $ | 3,125,384 | $ | 3,712,768 | $ | 812,762 | $ | 805,091 | $ | 880,084 | $ | 1,199,814 | $ | 3,697,751 | $ | 835,994 | $ | 935,345 | $ | 1,771,339 | |||||||||||||||||||||||||||||||
Cost of sales, exclusive of depreciation and amortization | 1,472,155 | 1,234,179 | 1,400,773 | 363,216 | 339,200 | 359,268 | 531,529 | 1,593,213 | 326,200 | 350,965 | 677,165 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit | 2,150,918 | 1,891,205 | 2,311,995 | 449,546 | 465,891 | 520,816 | 668,285 | 2,104,538 | 509,794 | 584,380 | 1,094,174 | ||||||||||||||||||||||||||||||||||||||||||
Stores and distribution expense | 1,598,500 | 1,379,948 | 1,428,323 | 337,543 | 340,791 | 367,333 | 437,264 | 1,482,931 | 331,613 | 352,730 | 684,343 | ||||||||||||||||||||||||||||||||||||||||||
Marketing, general and administrative expense | 464,615 | 463,843 | 536,815 | 122,149 | 124,168 | 133,201 | 138,084 | 517,602 | 142,631 | 144,502 | 287,133 | ||||||||||||||||||||||||||||||||||||||||||
Asset impairment | 19,135 | 72,937 | 12,100 | 3,422 | 2,170 | 3,744 | 4,695 | 14,031 | 4,436 | — | 4,436 | ||||||||||||||||||||||||||||||||||||||||||
Other operating (income) loss, net | (1,400) | (5,054) | (8,327) | (3,842) | 953 | (1,005) | 1,220 | (2,674) | (2,893) | (2,694) | (5,586) | ||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | 70,068 | (20,469) | 343,084 | (9,726) | (2,191) | 17,543 | 87,022 | 92,648 | 34,007 | 89,842 | 123,850 | ||||||||||||||||||||||||||||||||||||||||||
Interest expense, net | 7,737 | 28,274 | 34,110 | 7,307 | 6,917 | 7,295 | 4,113 | 25,632 | 3,443 | 1,097 | 4,540 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | 62,331 | (48,743) | 308,974 | (17,033) | (9,108) | 10,248 | 82,909 | 67,016 | 30,564 | 88,745 | 119,310 | ||||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | 17,371 | 60,211 | 38,908 | (2,187) | 5,634 | 10,966 | 42,218 | 56,631 | 12,717 | 30,014 | 42,732 | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 44,960 | (108,654) | 270,066 | (14,846) | (14,742) | (718) | 40,691 | 10,385 | 17,847 | 58,731 | 76,578 | ||||||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | 5,602 | 5,067 | 7,056 | 1,623 | 2,092 | 1,496 | 2,358 | 7,569 | 1,276 | 1,837 | 3,113 | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to Abercrombie & Fitch Co. | $ | 39,358 | $ | (114,021) | $ | 263,010 | $ | (16,469) | $ | (16,834) | $ | (2,214) | $ | 38,333 | $ | 2,816 | $ | 16,571 | $ | 56,894 | $ | 73,465 | |||||||||||||||||||||||||||||||
Net income (loss) per share attributable to Abercrombie & Fitch Co.: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic | $0.61 | $(1.82) | $4.41 | $(0.32) | $(0.33) | $(0.04) | $0.78 | $0.06 | $0.33 | $1.13 | $1.47 | ||||||||||||||||||||||||||||||||||||||||||
Diluted | $0.60 | $(1.82) | $4.20 | $(0.32) | $(0.33) | $(0.04) | $0.75 | $0.05 | $0.32 | $1.10 | $1.43 | ||||||||||||||||||||||||||||||||||||||||||
Weighted-average shares outstanding: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic | 64,428 | 62,551 | 59,597 | 52,077 | 50,441 | 49,486 | 49,216 | 50,307 | 49,574 | 50,322 | 49,952 | ||||||||||||||||||||||||||||||||||||||||||
Diluted | 65,778 | 62,551 | 62,636 | 52,077 | 50,441 | 49,486 | 51,217 | 52,327 | 51,467 | 51,548 | 51,535 | ||||||||||||||||||||||||||||||||||||||||||
Abercrombie & Fitch Co. | |||||||||||||||||||||||||||||
Financial Information | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
(in thousands, except per share data) | |||||||||||||||||||||||||||||
Fiscal 2023 | |||||||||||||||||||||||||||||
2019 | 2020 | 2021 | 2022 | Q2 YTD | |||||||||||||||||||||||||
Cash flow and capital allocation: | |||||||||||||||||||||||||||||
Net cash provided by (used for) operating activities | $ | 300,685 | $ | 404,918 | $ | 277,782 | $ | (2,343) | $ | 216,328 | |||||||||||||||||||
Net cash used for investing activities | $ | (202,784) | $ | (51,910) | $ | (96,979) | $ | (140,675) | $ | (89,780) | |||||||||||||||||||
Net cash (used for) provided by financing activities (YTD) | $ | (147,873) | $ | 69,717 | $ | (446,898) | $ | (155,329) | $ | (23,342) | |||||||||||||||||||
Capital expenditures | $ | 202,784 | $ | 101,910 | $ | 96,979 | $ | 164,566 | $ | 89,780 | |||||||||||||||||||
Number of shares repurchased as part of publicly announced plans or programs | 3,957 | 1,397 | 10,200 | 4,770 | — | ||||||||||||||||||||||||
Average price per share paid | $ | 16.06 | $ | 10.86 | $ | 36.99 | $ | 26.37 | $ | — | |||||||||||||||||||
Cost of shares repurchased | $ | 63,542 | $ | 15,172 | $ | 377,290 | $ | 125,775 | $ | — | |||||||||||||||||||
Dividends | 51,510 | 12,556 | — | — | — | ||||||||||||||||||||||||
Total | $ | 115,052 | $ | 27,728 | $ | 377,290 | $ | 125,775 | $ | — | |||||||||||||||||||
Shares outstanding | 62,786 | 62,399 | 52,985 | 49,002 | 50,141 | ||||||||||||||||||||||||
Abercrombie & Fitch Co. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Fiscal 2022 | Fiscal 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2019 | 2020 | 2021 | Q1 | Q2 | Q3 | Q4 | 2022 | Q1 | Q2 | 2023 | |||||||||||||||||||||||||||||||||||||||||||
Operating segment comparable sales | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Americas (1) | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | 14 | % | 9 | % | ||||||||||||||||||||||||||||||||||||||||
EMEA (1) | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | 6 | % | 2 | % | ||||||||||||||||||||||||||||||||||||||||
APAC (1) | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | 26 | % | 25 | % | ||||||||||||||||||||||||||||||||||||||||
Comparable sales (1) | 1 | % | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | 3 | % | 13 | % | 8 | % | ||||||||||||||||||||||||||||||||||||||
Branded comparable sales | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Abercrombie comparable sales (1) (2) | 3 | % | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | 14 | % | 23 | % | 19 | % | ||||||||||||||||||||||||||||||||||||||
Hollister comparable sales (1) (3) | -1 | % | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | -3 | % | 5 | % | -1 | % | ||||||||||||||||||||||||||||||||||||||
Comparable sales (1) | 1 | % | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | Not provided | 3 | % | 13 | % | 8 | % | ||||||||||||||||||||||||||||||||||||||
(1) Comparable sales are calculated on a constant currency basis and exclude revenue other than store and online sales. The Company did not provide comparable sales results for fiscal 2020, fiscal 2021 or fiscal 2022 due to temporary store closures as a result of COVID-19. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(2) Abercrombie includes the Company's Abercrombie & Fitch and abercrombie kids brands. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(3) Hollister includes the Company's Hollister, Gilly Hicks, and Social Tourist brands. |
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