Abercrombie & Fitch 2010 Annual Report Download - page 52

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Table of Contents
The table below presents the significant components of RUEHL's results included in Loss from Discontinued Operations, Net of
Tax on the Consolidated Statements of Operations and Comprehensive Income for fiscal years ended January 30, 2010 and
January 31, 2009.
2009 2008
NET SALES $ 48,393 $ 56,218
Cost of Goods Sold 22,037 25,621
GROSS PROFIT 26,356 30,597
Stores and Distribution Expense 146,826 75,148
Marketing, General and Administrative Expense 8,556 14,411
Other Operating Income, Net (11) (86)
NET LOSS BEFORE INCOME TAXES(1) $ (129,016) $ (58,876)
Income Tax Benefit (50,316) (22,962)
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX $ (78,699) $ (35,914)
NET LOSS PER SHARE FROM DISCONTINUED OPERATIONS:
BASIC $ (0.90) $ (0.41)
DILUTED $ (0.89) $ (0.40)
(1) Includes non-cash pre-tax asset impairment charges of approximately $51.5 million and $22.3 million during the fifty-two weeks
ended January 30, 2010 and January 31, 2009, respectively, and net costs associated with the closure of the RUEHL business,
primarily net lease termination costs of approximately $53.9 million and severance and other charges of $2.2 million during the
fifty-two weeks ended January 30, 2010.
CRITICAL ACCOUNTING ESTIMATES
The Company's discussion and analysis of its financial condition and results of operations are based upon the Company's
consolidated financial statements which have been prepared in accordance with accounting principles generally accepted in the United
States of America. The preparation of these consolidated financial statements requires the Company to make estimates and
assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Since actual results may differ from those
estimates, the Company revises its estimates and assumptions as new information becomes available.
The Company believes the following policies are the most critical to the portrayal of the Company's financial condition and
results of operations.
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