rct-abercrombie & fitch
rct-abercrombie & fitch
rct-abercrombie & fitch
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Part C. Income<br />
Statement<br />
•Abercrombie & Fitch uses a<br />
Multistep Income Statement, going<br />
through a series of steps, or subtotals,<br />
to arrive at their net income.<br />
A&F<br />
(in thousands)<br />
2008 2007<br />
Gross Profit $2,361,692 $2,511,367<br />
Operating<br />
Income<br />
$439,386 $740,497<br />
Net Income $272,255 $475,697<br />
The company Gross<br />
Profit decreased 30 basis<br />
points this was due to the<br />
current financial crisis<br />
and the companies need<br />
to clear merchandize as a<br />
result of the declining<br />
sales. The operating<br />
income decrease was due<br />
to foreign currency<br />
transactions and the<br />
decrease in income due to<br />
gift cards.
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