(in thousands, except per share data and store data)
Fiscal 2019
Fiscal 2020
2016
2017 (1)
2018
Q1
Q2
Q3
Q4
2019
Q1
Q2
Q3
2020
Net sales
$
3,326,740
$
3,492,690
$
3,590,109
$
733,972
$
841,078
$
863,472
$
1,184,551
$
3,623,073
$
485,359
$
698,328
$
819,653
$
2,003,340
Cost of sales, exclusive of depreciation and amortization
1,298,172
1,408,848
1,430,193
289,882
342,445
344,541
495,287
1,472,155
221,214
274,720
295,220
791,154
Gross profit
2,028,568
2,083,842
2,159,916
444,090
498,633
518,931
689,264
2,150,918
264,145
423,608
524,433
1,212,186
Stores and distribution expense
1,562,703
1,540,032
1,536,216
356,612
376,347
377,697
440,587
1,551,243
322,124
310,370
346,263
978,757
Marketing, general and administrative expense
453,202
471,914
484,863
111,947
115,694
114,075
122,899
464,615
108,257
97,252
121,000
326,509
Flagship store exit charges (benefits)
15,757
2,393
5,806
1,744
44,994
285
234
47,257
(543)
(3,884)
(8,063)
(12,490)
Asset impairment, exclusive of flagship store exit charges
7,930
14,391
11,580
1,662
715
12,610
4,148
19,135
42,928
8,083
6,329
57,340
Other operating (income) loss, net
(26,212)
(16,938)
(5,915)
(617)
367
(215)
(935)
(1,400)
506
(2,356)
288
(1,562)
Operating income (loss)
15,188
72,050
127,366
(27,258)
(39,484)
14,479
122,331
70,068
(209,127)
14,143
58,616
(136,368)
Interest expense, net
18,666
16,889
10,999
616
1,370
2,922
2,829
7,737
3,371
7,098
8,808
19,277
(Loss) income before income taxes
(3,478)
55,161
116,367
(27,874)
(40,854)
11,557
119,502
62,331
(212,498)
7,045
49,808
(155,645)
Income tax (benefit) expense
(11,196)
44,636
37,559
(9,588)
(11,330)
3,987
34,302
17,371
31,533
1,253
5,779
38,565
Net income (loss)
7,718
10,525
78,808
(18,286)
(29,524)
7,570
85,200
44,960
(244,031)
5,792
44,029
(194,210)
Less: Net income attributable to noncontrolling interests
3,762
3,431
4,267
869
1,618
1,047
2,068
5,602
117
328
1,758
2,203
Net income (loss) attributable to Abercrombie & Fitch Co.
$
3,956
$
7,094
$
74,541
$
(19,155)
$
(31,142)
$
6,523
$
83,132
$
39,358
$
(244,148)
$
5,464
$
42,271
$
(196,413)
1
Fiscal 2019
Fiscal 2020
2016
2017 (1)
2018
Q1
Q2
Q3
Q4
2019
Q1
Q2
Q3
2020
Net income (loss) per share attributable to Abercrombie & Fitch Co.:
Basic
$
0.06
$
0.10
$
1.11
$
(0.29)
$
(0.48)
$
0.10
$
1.32
$
0.61
$
(3.90)
$
0.09
$
0.68
$
(3.14)
Diluted
$
0.06
$
0.10
$
1.08
$
(0.29)
$
(0.48)
$
0.10
$
1.29
$
0.60
$
(3.90)
$
0.09
$
0.66
$
(3.14)
Weighted-average shares outstanding:
Basic
67,878
68,391
67,350
66,540
65,156
63,099
62,916
64,428
62,541
62,527
62,558
62,541
Diluted
68,284
69,403
69,137
66,540
65,156
63,911
64,198
65,778
62,541
63,286
63,877
62,541
Hollister comparable sales (2)
0 %
8 %
5 %
2 %
0 %
(2)%
(2)%
(1)%
Not
Not
Not
Not
provided
provided
provided
provided
Abercrombie comparable sales (2) (3)
(11)%
(2)%
1 %
1 %
0 %
3 %
8 %
3 %
Not
Not
Not
Not
provided
provided
provided
provided
Comparable sales (2)
(5)%
3 %
3 %
1 %
0 %
0 %
1 %
1 %
Not
Not
Not
Not
provided
provided
provided
provided
Shares outstanding
67,758
68,195
66,227
66,637
63,146
62,757
62,786
62,786
62,284
62,365
62,384
62,384
Number of stores - end of period
898
868
861
857
863
881
854
854
849
850
849
849
Gross square feet - end of period
7,007
6,710
6,566
6,503
6,476
6,556
6,303
6,303
6,265
6,277
6,217
6,217
Fiscal 2017 was a fifty-three week year.
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 due to widespread temporary store closures as a result of COVID-19.
Abercrombie includes the Company's Abercrombie & Fitch and abercrombie kids brands.
2
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Abercrombie & Fitch Co. published this content on 24 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2020 12:40:03 UTC
Abercrombie & Fitch Co., through its subsidiaries, is a global, digitally led omnichannel retailer. The Company offers a range of assortment of apparel, personal care products and accessories for men, women, and kids, which are sold primarily through its Company-owned stores and digital channels, as well as through various third-party arrangements. The Companyâs brands include Abercrombie brands, which includes Abercrombie & Fitch and abercrombie kids, and Hollister brands, which includes Hollister and Gilly Hicks. Its geographic segments include Americas, EMEA, and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa. The APAC segment includes operations in the Asia-Pacific region, including Asia and Oceania. The Company operates 40 international franchise stores across the Companyâs brands primarily located within the Americas and EMEA region.
ABERCROMBIE & FITCH CO. 
