2015 Q2 Form 10-Q Financial Statement
#000101884015000036 Filed on June 08, 2015
Income Statement
Concept | 2015 Q2 | 2014 Q2 |
---|---|---|
Revenue | $709.4M | $822.4M |
YoY Change | -13.74% | -1.95% |
Cost Of Revenue | $297.9M | $310.8M |
YoY Change | -4.15% | 8.81% |
Gross Profit | $411.5M | $511.7M |
YoY Change | -19.57% | -7.5% |
Gross Profit Margin | 58.01% | 62.21% |
Selling, General & Admin | $499.2M | $541.2M |
YoY Change | -7.76% | -4.7% |
% of Gross Profit | 121.3% | 105.77% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $53.30M | $58.90M |
YoY Change | -9.51% | -1.01% |
% of Gross Profit | 12.95% | 11.51% |
Operating Expenses | $497.4M | $536.8M |
YoY Change | -7.34% | -5.58% |
Operating Profit | -$90.20M | -$31.51M |
YoY Change | 186.29% | 126.32% |
Interest Expense | -$4.400M | $1.300M |
YoY Change | -438.46% | 30.0% |
% of Operating Profit | ||
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | -$94.84M | -$33.50M |
YoY Change | 183.07% | 115.47% |
Income Tax | -$31.59M | -$9.832M |
% Of Pretax Income | ||
Net Earnings | -$63.25M | -$23.67M |
YoY Change | 167.19% | 228.63% |
Net Earnings / Revenue | -8.92% | -2.88% |
Basic Earnings Per Share | -$0.91 | -$0.32 |
Diluted Earnings Per Share | -$0.91 | -$0.32 |
COMMON SHARES | ||
Basic Shares Outstanding | 69.51M shares | 74.48M shares |
Diluted Shares Outstanding | 69.51M shares | 74.48M shares |
Balance Sheet
Concept | 2015 Q2 | 2014 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $383.2M | $357.1M |
YoY Change | 7.31% | -35.76% |
Cash & Equivalents | $408.3M | $357.1M |
Short-Term Investments | ||
Other Short-Term Assets | $118.6M | $103.1M |
YoY Change | 14.97% | -9.66% |
Inventory | $441.0M | $486.0M |
Prepaid Expenses | ||
Receivables | $59.20M | $70.00M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $1.047B | $1.053B |
YoY Change | -0.6% | -16.54% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $949.6M | $1.122B |
YoY Change | -15.35% | -11.55% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $368.3M | $391.6M |
YoY Change | -5.96% | 7.28% |
Total Long-Term Assets | $1.318B | $1.513B |
YoY Change | -12.92% | -7.34% |
TOTAL ASSETS | ||
Total Short-Term Assets | $1.047B | $1.053B |
Total Long-Term Assets | $1.318B | $1.513B |
Total Assets | $2.365B | $2.566B |
YoY Change | -7.86% | -11.35% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $122.8M | $122.1M |
YoY Change | 0.56% | -16.53% |
Accrued Expenses | $280.0M | $282.9M |
YoY Change | -1.02% | -6.17% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $2.017M | $15.00M |
YoY Change | -86.55% | 0.0% |
Long-Term Debt Due | $2.000M | $15.00M |
YoY Change | -86.67% | 0.0% |
Total Short-Term Liabilities | $437.5M | $470.1M |
YoY Change | -6.93% | -11.88% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $290.3M | $116.3M |
YoY Change | 149.75% | -11.43% |
Other Long-Term Liabilities | $177.3M | $228.2M |
YoY Change | -22.29% | 0.13% |
Total Long-Term Liabilities | $619.8M | $543.7M |
YoY Change | 14.0% | -6.54% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $437.5M | $470.1M |
Total Long-Term Liabilities | $619.8M | $543.7M |
Total Liabilities | $1.057B | $1.014B |
YoY Change | 4.29% | -9.1% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $2.473B | $2.518B |
YoY Change | -1.77% | -0.98% |
Common Stock | $423.7M | $424.5M |
YoY Change | -0.19% | 5.13% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | $1.501B | $1.381B |
YoY Change | 8.7% | 20.4% |
Treasury Stock Shares | 33.74M shares | 30.53M shares |
Shareholders Equity | $1.307B | $1.553B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $2.365B | $2.566B |
YoY Change | -7.86% | -11.35% |
Cashflow Statement
Concept | 2015 Q2 | 2014 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$63.25M | -$23.67M |
YoY Change | 167.19% | 228.63% |
Depreciation, Depletion And Amortization | $53.30M | $58.90M |
YoY Change | -9.51% | -1.01% |
Cash From Operating Activities | -$93.78M | -$40.14M |
YoY Change | 133.64% | -72.05% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $29.92M | $37.83M |
YoY Change | -20.92% | -10.72% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $0.00 | |
YoY Change | -100.0% | |
Cash From Investing Activities | -$29.92M | -$37.83M |
YoY Change | -20.92% | -15.95% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $0.00 | $150.0M |
YoY Change | -100.0% | 819.96% |
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -$14.61M | -$171.7M |
YoY Change | -91.49% | -258.58% |
NET CHANGE | ||
Cash From Operating Activities | -$93.78M | -$40.14M |
Cash From Investing Activities | -$29.92M | -$37.83M |
Cash From Financing Activities | -$14.61M | -$171.7M |
Net Change In Cash | -$138.3M | -$249.7M |
YoY Change | -44.6% | 210.64% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$93.78M | -$40.14M |
Capital Expenditures | $29.92M | $37.83M |
Free Cash Flow | -$123.7M | -$77.97M |
YoY Change | 58.65% | -58.08% |
Facts In Submission
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Additional Time Period In Which Forecasted Transaction Is Not Expected To Occur
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|
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Current Deferred Income Tax Expense Benefit
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Current Deferred Income Tax Expense Benefit
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Inventory Shrink Reserve
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|
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Inventory Shrink Reserve
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|
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Leasehold Financing Obligation
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|
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Leasehold Financing Obligation
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Lessor Construction Allowances
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|
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Lessor Construction Allowances
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|
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Marketing General And Administrative Expense
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Maximum Length Of Time Inventory Sales Hedged
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Stores And Distribution Expense
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Entity Registrant Name
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Entity Voluntary Filers
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Long Term Debt Fair Value
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NetCashProvidedByUsedInFinancingActivities
|
-171688000 | USD |
CY2015Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-14609000 | USD |
CY2014Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-37829000 | USD |
CY2015Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-29917000 | USD |
CY2014Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-40140000 | USD |
CY2015Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-93783000 | USD |
CY2015Q2 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | |
CY2014Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-31506000 | USD |
CY2015Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-90197000 | USD |
CY2015Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
116574000 | USD |
CY2015Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
118563000 | USD |
CY2015Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
373194000 | USD |
CY2015Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
368263000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
|
9841000 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
|
204000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
-3129000 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
-5420000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
-462000 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
-397000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
14866000 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-15000 | USD |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
11737000 | USD |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-5435000 | USD |
CY2015Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
181286000 | USD |
CY2015Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
177311000 | USD |
CY2014Q2 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
3620000 | USD |
CY2015Q2 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
1960000 | USD |
CY2014Q2 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
150000000 | USD |
CY2015Q2 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
0 | USD |
CY2014Q2 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
14665000 | USD |
CY2015Q2 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
13871000 | USD |
CY2014Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
37829000 | USD |
CY2015Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
29917000 | USD |
CY2014Q2 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-3273000 | USD |
CY2015Q2 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
12000 | USD |
CY2014Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-23671000 | USD |
CY2015Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-63246000 | USD |
CY2015Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
2797250000 | USD |
CY2015Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
2786956000 | USD |
CY2015Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
967001000 | USD |
CY2015Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
949587000 | USD |
CY2015Q1 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
52910000 | USD |
CY2015Q2 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
59169000 | USD |
CY2014Q2 | us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
|
-1434000 | USD |
CY2015Q2 | us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
|
6036000 | USD |
CY2014Q2 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
3750000 | USD |
CY2015Q2 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
750000 | USD |
CY2014Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
5633000 | USD |
CY2015Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
-1598000 | USD |
CY2014Q2 | us-gaap |
Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
|
0 | USD |
CY2015Q2 | us-gaap |
Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
|
6133000 | USD |
CY2015Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
2550673000 | USD |
CY2015Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
2473346000 | USD |
CY2014Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
822428000 | USD |
CY2015Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
709422000 | USD |
CY2014Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5288000 | USD |
CY2015Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6855000 | USD |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
317600 | shares |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
64.35 | |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
10500 | shares |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | shares |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
124200 | USD |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
328100 | shares |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
317600 | shares |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
64.64 | |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
64.35 | |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0.00 | |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
73.48 | |
CY2015Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.00 | |
CY2015Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
124200 | USD |
CY2015Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P2Y5M | |
CY2015Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P2Y5M | |
CY2015Q1 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
2102000 | USD |
CY2015Q2 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
2017000 | USD |
CY2015Q2 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
CY2015Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1389701000 | USD |
CY2015Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1307300000 | USD |
CY2015Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
33948000 | shares |
CY2015Q2 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
33743000 | shares |
CY2015Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
1512562000 | USD |
CY2015Q2 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
1500777000 | USD |
CY2014Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
74483000 | shares |
CY2015Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
69510000 | shares |
CY2014Q2 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
103300000 | shares |
CY2015Q2 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
103300000 | shares |
CY2014Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
74483000 | shares |
CY2015Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
69510000 | shares |
CY2014Q2 | us-gaap |
Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
|
28817000 | shares |
CY2015Q2 | us-gaap |
Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
|
33790000 | shares |
CY2015Q2 | us-gaap |
Fiscal Period
FiscalPeriod
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal Year</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company’s fiscal year ends on the Saturday closest to January 31. All references herein to “Fiscal 2015” represent the 52-week fiscal year ending on January 30, 2016; and to “Fiscal 2014” represent the 52-week fiscal year ended January 31, 2015.</font></div></div> | |
CY2015Q2 | us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Contingencies</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is a defendant in lawsuits and other adversary proceedings arising in the ordinary course of business. Legal costs incurred in connection with the resolution of claims and lawsuits are generally expensed as incurred, and the Company establishes reserves for the outcome of litigation where it deems appropriate to do so under applicable accounting rules. The Company’s assessment of the current exposure could change in the event of the discovery of additional facts with respect to legal matters pending against the Company or determinations by judges, juries, administrative agencies or other finders of fact that are not in accordance with the Company’s evaluation of claims. Actual liabilities may exceed the amounts reserved, and there can be no assurance that final resolution of these matters will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows. The Company has established accruals for certain matters where losses are deemed probable and reasonably estimable. There are other claims and legal proceedings pending against the Company for which accruals have not been established.</font></div></div> | |
CY2015Q2 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Nature of Business</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Abercrombie & Fitch Co. (“A&F”), through its subsidiaries (collectively, A&F and its subsidiaries are referred to as "Abercrombie & Fitch" or the “Company”), is a specialty retailer that operates stores and direct-to-consumer operations. The Company operates stores in North America, Europe, Asia and the Middle East and direct-to-consumer operations in North America, Europe and Asia that service its brands throughout the world. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> |