Abercrombie & Fitch 2011 Annual Report Download - page 102

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ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
23. QUARTERLY FINANCIAL DATA (UNAUDITED)
Summarized unaudited quarterly financial results for Fiscal 2011 and Fiscal 2010 follows (in
thousands, except per share amounts):
Fiscal 2011 Quarter First Second Third Fourth
Net sales ..................................... $836,674 $916,763 $1,075,856 $1,328,766
Gross profit ................................... $543,661 $583,042 $ 646,522 $ 745,646
Net income from discontinued operations, net of tax . . . $ 796 $ — $ — $ —
Net income ................................... $ 25,141 $ 32,031 $ 50,905 $ 19,580
Net income per diluted share from continuing
operations(1) ................................. $ 0.27 $ 0.35 $ 0.57 $ 0.22
Net income per diluted share from discontinued
operations .................................. $ 0.01 $ — $ — $ —
Net income per diluted share(1) .................... $ 0.28 $ 0.35 $ 0.57 $ 0.22
Fiscal 2010 Quarter First Second Third Fourth
Net sales ....................................... $687,804 $745,798 $885,778 $1,149,396
Gross profit .................................... $431,416 $485,348 $564,432 $ 730,986
Net (loss) income ................................ $(11,828) $ 19,479 $ 50,040 $ 92,593
Net (loss) income per diluted share(2) ................. $ (0.13) $ 0.22 $ 0.56 $ 1.03
(1) The fourth quarter of Fiscal 2011 includes impairment charges of $0.49, asset write down charges of
$0.10, store closure and lease exit charges of $0.13, legal charges of $0.07, and charges related to a
change in intent with regarding the Company’s ARS portfolio of $0.10.
(2) The second quarter of Fiscal 2010 includes impairment charges of $0.02. The fourth quarter of Fiscal
2010 includes impairment charges of $0.33 and store closure charges of $0.03.
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