2019 Q2 Form 10-Q Financial Statement

#000101884019000033 Filed on June 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $734.0M $730.9M
YoY Change 0.42% 10.56%
Cost Of Revenue $289.9M $288.6M
YoY Change 0.46% 10.06%
Gross Profit $444.1M $442.3M
YoY Change 0.39% 10.88%
Gross Profit Margin 60.51% 60.52%
Selling, General & Admin $470.3M $480.5M
YoY Change -2.12% 2.28%
% of Gross Profit 105.9% 108.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $41.00M $47.60M
YoY Change -13.87% -2.46%
% of Gross Profit 9.23% 10.76%
Operating Expenses $469.3M $473.7M
YoY Change -0.93% 1.07%
Operating Profit -$27.26M -$42.20M
YoY Change -35.41% -39.66%
Interest Expense -$900.0K -$7.100M
YoY Change -87.32% 102.86%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$27.87M -$45.22M
YoY Change -38.36% -38.94%
Income Tax -$9.588M -$3.713M
% Of Pretax Income
Net Earnings -$19.16M -$42.46M
YoY Change -54.89% -31.18%
Net Earnings / Revenue -2.61% -5.81%
Basic Earnings Per Share -$0.29 -$0.62
Diluted Earnings Per Share -$0.29 -$0.62
COMMON SHARES
Basic Shares Outstanding 66.54M shares 68.50M shares
Diluted Shares Outstanding 66.54M shares 68.50M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $586.1M $592.0M
YoY Change -1.0% 40.48%
Cash & Equivalents $586.1M $592.0M
Short-Term Investments
Other Short-Term Assets $71.80M $104.8M
YoY Change -31.49% 14.46%
Inventory $432.4M $405.1M
Prepaid Expenses
Receivables $82.00M $72.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.172B $1.175B
YoY Change -0.2% 17.22%
LONG-TERM ASSETS
Property, Plant & Equipment $633.7M $709.0M
YoY Change -10.62% -12.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $364.7M $327.8M
YoY Change 11.25% -6.28%
Total Long-Term Assets $2.251B $1.037B
YoY Change 117.07% -10.3%
TOTAL ASSETS
Total Short-Term Assets $1.172B $1.175B
Total Long-Term Assets $2.251B $1.037B
Total Assets $3.423B $2.212B
YoY Change 54.78% 2.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $180.0M $166.6M
YoY Change 8.08% 12.91%
Accrued Expenses $240.1M $263.0M
YoY Change -8.71% 5.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $714.5M $461.6M
YoY Change 54.79% 9.58%
LONG-TERM LIABILITIES
Long-Term Debt $250.7M $250.0M
YoY Change 0.31% -5.08%
Other Long-Term Liabilities $145.7M $188.5M
YoY Change -22.73% 11.15%
Total Long-Term Liabilities $1.603B $561.1M
YoY Change 185.79% 0.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $714.5M $461.6M
Total Long-Term Liabilities $1.603B $561.1M
Total Liabilities $2.318B $1.023B
YoY Change 126.66% 4.66%
SHAREHOLDERS EQUITY
Retained Earnings $2.296B $2.357B
YoY Change -2.57% -1.54%
Common Stock $397.0M $400.9M
YoY Change -0.97% 3.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.493B $1.488B
YoY Change 0.33% -0.1%
Treasury Stock Shares 36.66M shares 35.48M shares
Shareholders Equity $1.095B $1.178B
YoY Change
Total Liabilities & Shareholders Equity $3.423B $2.212B
YoY Change 54.78% 2.48%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$19.16M -$42.46M
YoY Change -54.89% -31.18%
Depreciation, Depletion And Amortization $41.00M $47.60M
YoY Change -13.87% -2.46%
Cash From Operating Activities -$71.32M -$16.17M
YoY Change 341.01% -80.78%
INVESTING ACTIVITIES
Capital Expenditures $43.87M $23.70M
YoY Change 85.11% -26.12%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$43.87M -$23.70M
YoY Change 85.11% -25.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $18.67M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$20.32M -$37.49M
YoY Change -45.79% 165.78%
NET CHANGE
Cash From Operating Activities -$71.32M -$16.17M
Cash From Investing Activities -$43.87M -$23.70M
Cash From Financing Activities -$20.32M -$37.49M
Net Change In Cash -$138.1M -$83.27M
YoY Change 65.9% -33.71%
FREE CASH FLOW
Cash From Operating Activities -$71.32M -$16.17M
Capital Expenditures $43.87M $23.70M
Free Cash Flow -$115.2M -$39.87M
YoY Change 188.9% -65.69%

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<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;">The Company&#8217;s fiscal year ends on the Saturday closest to January&#160;31. This typically results in a fifty-two week year, but occasionally gives rise to an additional week, resulting in a fifty-three week year, as was the case for the year ended February 3, 2018. Fiscal years are designated in the consolidated financial statements and notes, as well as the remainder of this Quarterly Report on Form 10-Q, by the calendar year in which the fiscal year commenced. 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CY2019Q2 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;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&#160;&amp; Fitch Co. (&#8220;A&amp;F&#8221;), a company incorporated in Delaware in 1996, through its subsidiaries (collectively, A&amp;F and its subsidiaries are referred to as the &#8220;Company&#8221;, or &#8220;we&#8221;) </font><font style="font-family:inherit;font-size:10pt;">is a global multi-brand omnichannel specialty retailer, whose products are sold primarily through its wholly-owned store and direct-to-consumer channels, as well as through various third-party wholesale, franchise and licensing arrangements. The Company offers a broad assortment of apparel, personal care products and accessories for Men, Women and Kids under the Hollister, Abercrombie&#160;&amp; Fitch and abercrombie kids brands.The brands share a commitment to offering unique products of enduring quality and exceptional comfort that allow customers around the world to express their own individuality and style. The Company has operations in North America, Europe and Asia, among other regions. </font></div></div>

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