Abercrombie & Fitch Co. (ANF, Financial) filed Quarterly Report for the period ended 2010-07-31.
Abercrombie & Fitch Co. has a market cap of $3.05 billion; its shares were traded at around $34.57 with a P/E ratio of 26.2 and P/S ratio of 1. The dividend yield of Abercrombie & Fitch Co. stocks is 2%. Abercrombie & Fitch Co. had an annual average earning growth of 3.7% over the past 10 years.ANF is in the portfolios of Columbia Wanger of Columbia Wanger Asset Management, Steven Cohen of SAC Capital Advisors, Donald Yacktman of Yacktman Asset Management Co., Jim Simons of Renaissance Technologies LLC, Louis Moore Bacon of Moore Capital Management, LP, Pioneer Investments, Jeremy Grantham of GMO LLC, Chuck Royce of Royce& Associates.
During the Fiscal 2010 year-to-date period, net sales increased 16% to $1.434 billion from $1.239 billion in Fiscal 2009. Operating income was $8.8 million in the Fiscal 2010 year-to-date period, compared to an operating loss of $25.0 million in Fiscal 2009. The Company had net income of $7.7 million in the Fiscal 2010 year-to-date period compared to a net loss of $86.0 million in Fiscal 2009. Net income per diluted share was $0.09 in the Fiscal 2010 year-to-date period compared to net loss per basic and diluted share of $0.98 in Fiscal 2009. Fiscal 2010 year-to-date net income per diluted share included a non-cash asset impairment charge associated with expected store closures of $0.02 per diluted share. Fiscal 2009 year-to-date net loss per basic and diluted share included a net loss of $0.62 per basic and diluted share from discontinued operations. Results from discontinued operations were immaterial for the Fiscal 2010 year-to-date period.
Net cash used for operating activities was $21.7 million for the twenty-six weeks ended July 31, 2010. In addition, the Company used $59.8 million of cash for capital expenditures and paid dividends totaling $30.8 million during the twenty-six weeks ended July 31, 2010. As of July 31, 2010, the Company had $613.6 million in cash and equivalents and outstanding debt and letters of credit of $77.6 million, compared to $366.5 million in cash and equivalents and outstanding debt and letters of credit of $79.6 million as of August 1, 2009.
Direct-to-consumer net merchandise sales for the second quarter of Fiscal 2010 were $69.0 million, an increase of 50% from Fiscal 2009 second quarter direct-to-consumer net merchandise sales of $46.1 million. Shipping and handling revenue for the corresponding periods was $11.0 million in Fiscal 2010 and $8.2 million in Fiscal 2009. The direct-to-consumer business, including shipping and handling revenue, accounted for 10.7% of total net sales in the second quarter of Fiscal 2010 compared to 8.5% in the second quarter of Fiscal 2009.
Direct-to-consumer net merchandise sales for the Fiscal 2010 year-to-date period were $137.7 million, an increase of 46% from Fiscal 2009 year-to-date direct-to-consumer net merchandise sales of $94.5 million. Shipping and handling revenue for the corresponding periods was $22.3 million in Fiscal 2010 and $16.6 million in Fiscal 2009. The direct-to-consumer business, including shipping and handling revenue, accounted for 11.2% of total net sales in the Fiscal 2010 year-to-date period compared to 9.0% in the Fiscal 2009 year-to-date period.
Total direct-to-consumer expenses included in stores and distribution expense was $12.9 million and $25.7 million for the thirteen and twenty-six weeks ended July 31, 2010, respectively. Total direct-to-consumer expenses included in stores and distribution expense was $9.7 million and $21.4 million for the thirteen and twenty-six weeks ended August 1, 2009, respectively.
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Abercrombie & Fitch Co. has a market cap of $3.05 billion; its shares were traded at around $34.57 with a P/E ratio of 26.2 and P/S ratio of 1. The dividend yield of Abercrombie & Fitch Co. stocks is 2%. Abercrombie & Fitch Co. had an annual average earning growth of 3.7% over the past 10 years.ANF is in the portfolios of Columbia Wanger of Columbia Wanger Asset Management, Steven Cohen of SAC Capital Advisors, Donald Yacktman of Yacktman Asset Management Co., Jim Simons of Renaissance Technologies LLC, Louis Moore Bacon of Moore Capital Management, LP, Pioneer Investments, Jeremy Grantham of GMO LLC, Chuck Royce of Royce& Associates.
Highlight of Business Operations:
During the second quarter of Fiscal 2010, net sales increased 17% to $745.8 million from $637.2 million in the second quarter of Fiscal 2009. Operating income was $27.6 million in the second quarter of Fiscal 2010, compared to $8.9 million in the second quarter of Fiscal 2009. The Company had net income of $19.5 million in the second quarter of Fiscal 2010 compared to a net loss of $26.7 million in the second quarter of Fiscal 2009. Net income per diluted share was $0.22 in the second quarter of Fiscal 2010 compared to net loss per basic and diluted share of $0.30 in the second quarter of Fiscal 2009. Fiscal 2010 second quarter net income per diluted share included a non-cash asset impairment charge associated with expected store closures of $0.02 per diluted share. Fiscal 2009 second quarter net loss per basic and diluted share included a net loss of $0.21 per basic and diluted share from discontinued operations. Results from discontinued operations were immaterial for the second quarter of Fiscal 2010.During the Fiscal 2010 year-to-date period, net sales increased 16% to $1.434 billion from $1.239 billion in Fiscal 2009. Operating income was $8.8 million in the Fiscal 2010 year-to-date period, compared to an operating loss of $25.0 million in Fiscal 2009. The Company had net income of $7.7 million in the Fiscal 2010 year-to-date period compared to a net loss of $86.0 million in Fiscal 2009. Net income per diluted share was $0.09 in the Fiscal 2010 year-to-date period compared to net loss per basic and diluted share of $0.98 in Fiscal 2009. Fiscal 2010 year-to-date net income per diluted share included a non-cash asset impairment charge associated with expected store closures of $0.02 per diluted share. Fiscal 2009 year-to-date net loss per basic and diluted share included a net loss of $0.62 per basic and diluted share from discontinued operations. Results from discontinued operations were immaterial for the Fiscal 2010 year-to-date period.
Net cash used for operating activities was $21.7 million for the twenty-six weeks ended July 31, 2010. In addition, the Company used $59.8 million of cash for capital expenditures and paid dividends totaling $30.8 million during the twenty-six weeks ended July 31, 2010. As of July 31, 2010, the Company had $613.6 million in cash and equivalents and outstanding debt and letters of credit of $77.6 million, compared to $366.5 million in cash and equivalents and outstanding debt and letters of credit of $79.6 million as of August 1, 2009.
Direct-to-consumer net merchandise sales for the second quarter of Fiscal 2010 were $69.0 million, an increase of 50% from Fiscal 2009 second quarter direct-to-consumer net merchandise sales of $46.1 million. Shipping and handling revenue for the corresponding periods was $11.0 million in Fiscal 2010 and $8.2 million in Fiscal 2009. The direct-to-consumer business, including shipping and handling revenue, accounted for 10.7% of total net sales in the second quarter of Fiscal 2010 compared to 8.5% in the second quarter of Fiscal 2009.
Direct-to-consumer net merchandise sales for the Fiscal 2010 year-to-date period were $137.7 million, an increase of 46% from Fiscal 2009 year-to-date direct-to-consumer net merchandise sales of $94.5 million. Shipping and handling revenue for the corresponding periods was $22.3 million in Fiscal 2010 and $16.6 million in Fiscal 2009. The direct-to-consumer business, including shipping and handling revenue, accounted for 11.2% of total net sales in the Fiscal 2010 year-to-date period compared to 9.0% in the Fiscal 2009 year-to-date period.
Total direct-to-consumer expenses included in stores and distribution expense was $12.9 million and $25.7 million for the thirteen and twenty-six weeks ended July 31, 2010, respectively. Total direct-to-consumer expenses included in stores and distribution expense was $9.7 million and $21.4 million for the thirteen and twenty-six weeks ended August 1, 2009, respectively.
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