Abercrombie & Fitch Q2: $1.7B Assets, Strong Liabilities

TL;DR

A&F Q2: $1.7B assets, $133M AP, $156M accrued liabilities. Solid.

AI Summary

Abercrombie & Fitch Co. reported its second-quarter results for the period ending August 3, 2024. The company's total assets were $1.746 billion, with current assets totaling $910.07 million. Liabilities included $133.67 million in accounts payable and $156.49 million in accrued liabilities.

Why It Matters

This filing provides a snapshot of Abercrombie & Fitch's financial health, detailing its asset base and short-term obligations, which are key indicators for investors and creditors.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not contain any immediately alarming financial indicators.

Key Numbers

• $1.746B — Total Assets (Represents the company's total resources as of August 3, 2024.)
• $910.07M — Current Assets (Indicates the company's short-term liquid resources.)
• $133.67M — Accounts Payable (Represents short-term obligations to suppliers.)
• $156.49M — Accrued Liabilities (Represents expenses incurred but not yet paid.)

Key Players & Entities

• Abercrombie & Fitch Co. (company) — Filer of the 10-Q report
• 20240803 (date) — End of the reporting period
• $1.746 billion (dollar_amount) — Total assets
• $910.07 million (dollar_amount) — Current assets
• $133.67 million (dollar_amount) — Accounts Payable (Current)
• $156.49 million (dollar_amount) — Accrued Liabilities (Current)

FAQ

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 Par Value ANF New York Stock Exchange

Filing Documents

• anf-20240803.htm (10-Q) — 1690KB
• exhibit311-ceocertq22024.htm (EX-31.1) — 9KB
• exhibit312-cfocertq22024.htm (EX-31.2) — 10KB
• exhibit321-ceocfocertq22024.htm (EX-32.1) — 7KB
• 0001018840-24-000071.txt ( ) — 8620KB
• anf-20240803.xsd (EX-101.SCH) — 57KB
• anf-20240803_cal.xml (EX-101.CAL) — 61KB
• anf-20240803_def.xml (EX-101.DEF) — 368KB
• anf-20240803_lab.xml (EX-101.LAB) — 809KB
• anf-20240803_pre.xml (EX-101.PRE) — 594KB
• anf-20240803_htm.xml (XML) — 1246KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Operations and Comprehensive Income 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 7 Index for Notes to Condensed Consolidated Financial Statements 8 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 42

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43

Other Information

Item 5. Other Information 43

Exhibits

Item 6. Exhibits 44

Signatures

Signatures 45 Abercrombie & Fitch Co. 2 2024 2Q Form 10-Q Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Abercrombie & Fitch Co. Condensed Consolidated Statements of Operations and Comprehensive Income (Thousands, except per share amounts) (Unaudited) Thirteen Weeks Ended Twenty-Six Weeks Ended August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Net sales $ 1,133,974 $ 935,345 $ 2,154,704 $ 1,771,339 Cost of sales, exclusive of depreciation and amortization 397,712 350,965 740,985 677,165 Gross profit 736,262 584,380 1,413,719 1,094,174 Stores and distribution expense 390,233 352,730 761,919 688,779 Marketing, general and administrative expense 170,471 144,502 348,351 287,133 Other operating income, net ( 67 ) ( 2,694 ) ( 2,025 ) ( 5,588 ) Operating income 175,625 89,842 305,474 123,850 Interest expense 5,189 7,635 10,969 15,093 Interest income ( 10,392 ) ( 6,538 ) ( 21,195 ) ( 10,553 ) Interest (income) expense, net ( 5,203 ) 1,097 ( 10,226 ) 4,540 Income before income taxes 180,828 88,745 315,700 119,310 Income tax expense 45,449 30,014 65,243 42,732 Net income 135,379 58,731 250,457 76,578 Less: Net income attributable to noncontrolling interests 2,211 1,837 3,439 3,113 Net income attributable to A&F $ 133,168 $ 56,894 $ 247,018 $ 73,465 Net income per share attributable to A&F Basic $ 2.60 $ 1.13 $ 4.84 $ 1.47 Diluted $ 2.50 $ 1.10 $ 4.64 $ 1.43 Weighted-average shares outstanding Basic 51,246 50,322 51,069 49,952 Diluted 53,279 51,548 53,277 51,535 Other comprehensive income (loss) Foreign currency translation adjustments, net of tax $ 3,441 $ ( 3,836 ) $ 1,604 $ ( 3,525 ) Derivative financial instruments, net of tax ( 1,150 ) 2,242 ( 627 ) 2,647 Other comprehensive income (loss) 2,291 ( 1,594 ) 977 ( 878 ) Comprehensive income 137,670 57,137 251,434 75,700 Less: Comprehensive income attributable to noncontrolling interests 2,211 1,837 3,439 3,113 Comprehensive income attributable to A&F $ 135,459 $ 55,300 $ 247,995 $ 72,587 The accompanying Notes are an integral part of these

View Full Filing

View this 10-Q filing on SEC EDGAR