Abercrombie & Fitch CO /DE/ - Annual Report of Employee Stock Plans (11-K)
June 26 2008 - 4:02PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
(Mark One)
|
|
|
þ
|
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the fiscal year ended December 31, 2007
OR
|
|
|
o
|
|
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the transition period from
to
Commission file number 333-60203
A. Full title of the plan and the address of the plan, if different from that of the issuer
named below:
Abercrombie & Fitch Co.
Savings and Retirement Plan
B. Name of issuer of the securities held pursuant to the plan and the address of its
principal executive office:
Abercrombie & Fitch Co.
6301 Fitch Path
New Albany, Ohio 43054
Index to Exhibit on page 14
REQUIRED INFORMATION
The following financial statements and supplemental schedule for the Abercrombie & Fitch Co.
Savings and Retirement Plan are being filed herewith:
|
|
|
|
|
Description
|
|
Page No.
|
|
|
|
|
|
Audited Financial Statements:
|
|
|
|
|
|
|
|
|
|
|
|
|
3
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
|
|
|
|
|
|
5
|
|
|
|
|
|
|
|
|
|
6
|
|
|
|
|
|
|
Supplemental Schedule:
|
|
|
|
|
|
|
|
|
|
|
|
|
12
|
|
|
|
|
|
|
The following exhibit is being filed herewith:
|
|
|
|
|
|
|
|
|
|
Exhibit No.
23.01
|
|
|
|
|
|
|
|
|
|
|
|
|
15
|
|
EX-23.01
|
2
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors of
Abercrombie & Fitch Co. and the
Benefit Plans Committee of the Abercrombie & Fitch Co.
Savings and Retirement Plan:
We have audited the accompanying statements of net assets available for benefits of the
Abercrombie & Fitch Co. Savings and Retirement Plan (the Plan) as of December 31, 2007 and 2006,
and the related statements of changes in net assets available for benefits for the years then
ended. These financial statements are the responsibility of the Plans management. Our
responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with standards of the Public Company Accounting
Oversight Board (United States). Those standards require that we plan and perform the audits to
obtain reasonable assurance about whether the financial statements are free of material
misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its
internal control over financial reporting. Our audits included consideration of internal control
over financial reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plans
internal control over financial reporting. Accordingly, we express no such opinion. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the net assets available for benefits of the Plan as of December 31, 2007 and 2006, and
the changes in net assets available for benefits for the years then ended, in conformity with
accounting principles generally accepted in the United States of America.
Our audits were performed for the purpose of forming an opinion on the basic financial
statements taken as a whole. The supplemental schedule of assets held at end of year as of
December 31, 2007 is presented for the purpose of additional analysis and is not a required part of
the basic financial statements, but is supplementary information required by the Department of
Labors Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. The supplemental schedule is the responsibility of the Plans management.
The supplemental schedule has been subjected to the auditing procedures applied in the audit of
the basic 2007 financial statements and, in our opinion, is fairly stated in all material respects in
relation to the basic financial statements taken as a whole.
/s/ Ary Roepcke Mulchaey, P.C.
Columbus, Ohio
June 26, 2008
3
Abercrombie & Fitch Co. Savings and Retirement Plan
Statements of Net Assets Available for Benefits
December 31, 2007 and 2006
|
|
|
|
|
|
|
|
|
|
|
2007
|
|
|
2006
|
|
ASSETS:
|
|
|
|
|
|
|
|
|
Investments, at fair value
|
|
$
|
80,343,601
|
|
|
$
|
60,855,156
|
|
Cash
|
|
|
55,581
|
|
|
|
57,183
|
|
Receivable for contributions:
|
|
|
|
|
|
|
|
|
Employer
|
|
|
8,764,510
|
|
|
|
7,292,227
|
|
Participants
|
|
|
244,356
|
|
|
|
145,872
|
|
|
|
|
|
|
|
|
Total receivable for contributions
|
|
|
9,008,866
|
|
|
|
7,438,099
|
|
|
|
|
|
|
|
|
|
|
Accrued earnings
|
|
|
230
|
|
|
|
245
|
|
|
|
|
|
|
|
|
NET ASSETS AVAILABLE
FOR BENEFITS, AT FAIR VALUE
|
|
|
89,408,278
|
|
|
|
68,350,683
|
|
Adjustment from fair value to contract
value for fully benefit-responsive
investment contracts
|
|
|
145,054
|
|
|
|
102,505
|
|
|
|
|
|
|
|
|
NET ASSETS AVAILABLE FOR BENEFITS
|
|
$
|
89,553,332
|
|
|
$
|
68,453,188
|
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of these financial statements.
4
Abercrombie & Fitch Co. Savings and Retirement Plan
Statements of Changes in Net Assets Available for Benefits
For the Years Ended December 31, 2007 and 2006
|
|
|
|
|
|
|
|
|
|
|
2007
|
|
|
2006
|
|
ADDITIONS:
|
|
|
|
|
|
|
|
|
Investment income:
|
|
|
|
|
|
|
|
|
Net appreciation in fair value of
investments
|
|
$
|
948,618
|
|
|
$
|
2,211,482
|
|
Mutual funds earnings
|
|
|
4,907,156
|
|
|
|
2,927,146
|
|
Common collective trusts earnings
|
|
|
565,919
|
|
|
|
377,988
|
|
Interest
|
|
|
73,437
|
|
|
|
58,799
|
|
Dividends
|
|
|
12,610
|
|
|
|
14,749
|
|
|
|
|
|
|
|
|
Total investment income
|
|
|
6,507,740
|
|
|
|
5,590,164
|
|
Contributions:
|
|
|
|
|
|
|
|
|
Employer
|
|
|
12,772,699
|
|
|
|
10,092,476
|
|
Participants
|
|
|
7,867,101
|
|
|
|
5,738,397
|
|
Rollovers
|
|
|
697,067
|
|
|
|
1,078,862
|
|
|
|
|
|
|
|
|
Total contributions
|
|
|
21,336,867
|
|
|
|
16,909,735
|
|
|
|
|
|
|
|
|
Total additions
|
|
|
27,844,607
|
|
|
|
22,499,899
|
|
|
|
|
|
|
|
|
|
|
DEDUCTIONS:
|
|
|
|
|
|
|
|
|
Distributions to participants
|
|
|
6,691,167
|
|
|
|
3,550,337
|
|
Administrative expenses
|
|
|
53,296
|
|
|
|
11,931
|
|
|
|
|
|
|
|
|
Total deductions
|
|
|
6,744,463
|
|
|
|
3,562,268
|
|
|
|
|
|
|
|
|
Net increase
|
|
|
21,100,144
|
|
|
|
18,937,631
|
|
Net assets available for benefits:
|
|
|
|
|
|
|
|
|
Beginning of year
|
|
|
68,453,188
|
|
|
|
49,515,557
|
|
|
|
|
|
|
|
|
End of year
|
|
$
|
89,553,332
|
|
|
$
|
68,453,188
|
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of these financial statements.
5
Abercrombie & Fitch Co. Savings and Retirement Plan
Notes to Financial Statements
For the Years Ended December 31, 2007 and 2006
(1)
|
|
Description of the plan
|
|
|
|
General
|
|
|
|
The Abercrombie & Fitch Co. Savings and Retirement Plan (the Plan), originally effective July
1, 1998, and amended and restated in its entirety effective October 1, 2007, is a defined
contribution plan covering certain employees of Abercrombie & Fitch Co. (the Employer).
Employees are eligible to participate in the Plan if they are at least 21 years of age and have
completed a year of employment with 1,000 or more hours of service.
|
|
|
|
Effective October 1, 2007, the Fidelity Freedom 2045 Fund and Fidelity Freedom 2050 were added as
investment options.
|
|
|
|
Effective March 1, 2005, the Abercrombie & Fitch Company Stock Fund was frozen as an investment
option under the Plan, including exchanges in, contributions, and loan repayments. Participant
investment elections remaining at the start of the freeze period were invested in the Fidelity
Managed Income Portfolio.
|
|
|
|
Under the Plan, a $1,000 minimum account balance is required for terminated participants to
retain their accounts in the Plan. The minimum account balance was $5,000 for terminated
participant accounts from before March 28, 2005. As of October 1, 2007, the Plan was changed to
allow terminated participants with account balances from $1,000 to $5,000 to be rolled into a
Fidelity IRA account.
|
|
|
|
The following description of the Plan provides only general information. Participants should
refer to the Plan document and Summary Plan Description for a more complete description of the
Plans provisions. The Plan is subject to the provisions of the Employee Retirement Income
Security Act of 1974 (ERISA), as amended.
|
|
|
|
Contributions
|
|
|
|
Employers Contribution:
|
|
|
|
The Employer may provide a discretionary, non-elective employer contribution on behalf of
eligible active participants, who completed 1,000 hours of service during the Plan year and who
were employed on the last day of the Plan year, in an amount equal to 5% of annual compensation
up to the Social Security wage base and 8% of annual compensation thereafter.
|
|
|
|
The annual amount of compensation of each participant that is eligible for consideration under
the Plan is limited to the maximum amount permitted under Section 401(a)(17) of the Internal
Revenue Code. The annual compensation limit for the Plan years ended December 31, 2007 and 2006
was $225,000 and $220,000, respectively.
|
|
|
|
The Employer provides a matching contribution of 100% of the first 3% and 50% of the next 2% of
the participants voluntary contributions.
|
6
|
|
Participants voluntary contributions:
|
|
|
|
A participant may elect to make a voluntary tax-deferred contribution of 1% to 50% of his or her
annual compensation up to the maximum permitted under Section 402(g) of the Internal Revenue Code
adjusted annually ($15,500 for 2007). This voluntary tax-deferred contribution may be limited by
Section 401(k) of the Internal Revenue Code.
|
|
|
|
If a participant will be age 50 or older as of the end of a calendar year, they may elect to make
catch-up contributions in that year. Catch-up contributions are deferral contributions in
excess of the limits discussed above and any other limit prescribed by law. For 2007 and 2006,
catch-up contributions could not exceed $5,000.
|
|
|
|
Rollover contributions are assets transferred to the Plan by participants who receive
distributions from other qualified plans. These contributions are not entitled to any employer
matching contributions.
|
|
|
|
Investment Options
|
|
|
|
Participants direct the investment of both their own and the Employers contributions into
various investment options offered by the Plan. The Plan currently offers twenty-three mutual
funds and a common collective trust as investment options.
|
|
|
|
Participant Accounts
|
|
|
|
Each participants account is credited with the participants contributions and allocations of 1)
the Employers contributions, 2) investment earnings, and 3) administrative expenses. Allocations
are based on the participants contributions or account balances, as appropriate. A participant
is entitled to the benefit that can be provided from the participants vested account.
|
|
|
|
Vesting
|
|
|
|
Participants are fully and immediately vested for voluntary contributions, rollover contributions
and the Employers matching contributions made subsequent to January 1, 2003. A summary of
vesting percentages in the Employers matching contributions made prior to January 1, 2003, and
the Employers discretionary non-elective contributions are as follows:
|
|
|
|
|
|
Years of Vested Service
|
|
Percentage
|
|
Less than one year
|
|
|
0
|
%
|
One year, but less than two years
|
|
|
20
|
%
|
Two years, but less than three years
|
|
|
40
|
%
|
Three years, but less than four years
|
|
|
60
|
%
|
Four years, but less than five years
|
|
|
80
|
%
|
Five years or more
|
|
|
100
|
%
|
|
|
Payment of Benefits
|
|
|
|
The full value of a participants account becomes payable upon retirement, disability or death.
Upon termination of employment for any other reason, a participants account, to the extent
vested, becomes payable. Those participants with vested account balances greater than $1,000 have
the option of leaving their accounts invested in the Plan until age 65. All benefits will be
paid as a lump-sum distribution. Those participants holding shares of the Employers common stock
will have the option of receiving such amounts in whole shares of the Employers common stock and
cash for any fractional shares. Participants have the option of having their benefit paid
directly to an eligible retirement plan specified by the participant.
|
|
|
|
A participant who is fully vested in his or her account and who has participated in the Plan for
at least five years may obtain an in-service withdrawal from certain accounts based on the
percentage amounts designated by the Plan. A participant may also request a hardship distribution
from certain accounts due to an immediate and heavy financial need based on the terms of the
Plan.
|
7
|
|
Participant Loans
|
|
|
|
Participants are permitted to borrow from their account the lesser of $50,000 or 50% of the
vested balance of their account, with a minimum loan amount of $1,000. All loans become due and
payable in full upon a participants termination of employment with the employer. The borrowing
constitutes a separate earmarked investment of the participants account. Interest on the
borrowing is based on the customary rate for similar loans within the geographic area in which
the Plan is administered.
|
|
|
|
Amounts allocated to participants withdrawn from the plan
|
|
|
|
The vested portion of net assets available for benefits allocated to participants withdrawn from
the Plan was $576,595 and $86,276 as of December 31, 2007 and 2006, respectively.
|
|
|
|
Forfeitures
|
|
|
|
Forfeitures are used to reduce the Employers contributions. Forfeitures of $1,238,327 and
$508,885 were used to reduce contributions for the years ended December 31, 2007 and 2006,
respectively.
|
|
|
|
Expenses
|
|
|
|
Administrative expenses may be paid by the Plan unless the Employer elects to pay such expenses.
Substantially all administrative expenses of the Plan for 2007 and 2006 were paid by the Employer
except for loan administration fees, which are allocated to the borrowing participants account,
distribution processing fees, as well as certain other investment fees.
|
|
|
|
Brokerage fees, transfer taxes, and other expenses incurred in connection with the investment of
the Plans assets will be added to the cost of such investments or deducted from the proceeds
thereof, as the case may be.
|
|
(2)
|
|
Summary of accounting policies
|
|
|
|
Basis of presentation
|
|
|
|
The accompanying financial statements have been prepared on the accrual basis of accounting,
including investment valuation and income recognition.
|
|
|
|
Estimates
|
|
|
|
The Plan prepares its financial statements in conformity with accounting principles generally
accepted in the United States of America, which requires management to make estimates and
assumptions that affect the reported amounts of net assets available for plan benefits at the
date of the financial statements and the changes in net assets available for plan benefits during
the reporting period and, when applicable, disclosures of contingent assets and liabilities at
the date of the financial statements. Actual results could differ from these estimates.
|
8
|
|
New Accounting Pronouncements
|
|
|
|
In September 2006, the Financial Accounting Standards Board (FASB) issued Statement of
Financial Accounting Standards (SFAS) No. 157,
Fair Value Measurements
(SFAS No. 157).
SFAS No. 157 provides guidance for using fair value to measure assets and liabilities and only
applies when other standards require or permit the fair value measurement of assets and
liabilities. SFAS No. 157 does not expand the use of fair value measurement. SFAS No. 157 is
effective for financial statements issued for fiscal years beginning after November 15, 2007.
Consequently, SFAS No. 157 became applicable for the Plan beginning January 1, 2008. The
Employer does not believe the adoption of SFAS No. 157 will have a material impact on the Plans
financial statements.
|
|
|
|
Risks
|
|
|
|
The Plan provides for the various investment options as described in Note 1. Any investment is
exposed to various risks, such as interest rate, market and credit risk. These risks could result
in a material effect on participants account balances and the amounts reported in the statements
of net assets available for benefits and the statements of changes in net assets available for
benefits.
|
|
|
|
Investment valuation and income recognition
|
|
|
|
The Plan follows FASB Staff Position (FSP) No. AAG INV-1 and Statement of Position No. 94-4-1,
Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies
Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and
Pension Plans
. This FSP requires the Statement of Net Assets Available for Benefits present the
fair value of the Plans investments as well as the adjustment from fair value to contract value
for the fully benefit-responsive investment contracts. The Statement of Changes in Net Assets
Available for Benefits is prepared on a contract value basis for the fully benefit-responsive
investment contracts. Contract value represents contributions plus earnings, less participant
withdrawals and administrative expenses.
|
|
|
|
Mutual funds are stated at fair value as determined by quoted market price, which represents the
net asset value of shares held by the Plan at year end. Common stocks are valued as determined by
quoted market price. The common collective trusts fair value has been determined by the trustee
sponsoring the common collective trust by dividing the trusts net asset at fair value by its
units outstanding at the valuation dates.
|
|
|
|
Participant loans are valued based on remaining unpaid principal balance plus any accrued but
unpaid interest, which approximates fair value.
|
|
|
|
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded
on the accrual basis. Dividends are recorded on the ex-dividend date.
|
|
|
|
Net appreciation in fair value of investments
|
|
|
|
Net realized and unrealized appreciation (depreciation) is recorded in the accompanying
statements of changes in net assets available for benefits as net appreciation in fair value of
investments.
|
|
|
|
Benefit payments
|
|
|
|
Benefits are recorded when paid.
|
9
(3)
|
|
Investments
|
|
|
|
The following table presents balances as of December 31, 2007 and 2006 for the Plans investment
options. Investments that represent five percent or more of the Plans net assets are separately
identified.
|
|
|
|
|
|
|
|
|
|
|
|
2007
|
|
|
2006
|
|
Investments at fair value as determined by:
|
|
|
|
|
|
|
|
|
Quoted market price:
|
|
|
|
|
|
|
|
|
Common stock:
|
|
|
|
|
|
|
|
|
Abercrombie & Fitch Co., Class A
|
|
$
|
1,327,230
|
|
|
$
|
1,399,394
|
|
Mutual funds:
|
|
|
|
|
|
|
|
|
Fidelity Diversified International Fund
|
|
|
8,067,206
|
|
|
|
5,463,153
|
|
Fidelity Contrafund
|
|
|
6,582,837
|
|
|
|
3,702,856
|
|
Fidelity Spartan U.S. Equity Index Fund
|
|
|
5,869,955
|
|
|
|
5,431,883
|
|
Fidelity Blue Chip Growth Fund
|
|
|
5,433,816
|
|
|
|
4,808,634
|
|
Artisan Mid Cap Fund
|
|
|
5,273,085
|
|
|
|
3,155,283
|
|
Fidelity Freedom 2040 Fund
|
|
|
4,939,148
|
|
|
|
3,975,229
|
|
Fidelity Freedom 2020 Fund
|
|
|
4,902,350
|
|
|
|
4,162,957
|
|
Other
|
|
|
23,600,573
|
|
|
|
17,719,607
|
|
|
|
|
|
|
|
|
Total mutual funds
|
|
|
64,668,970
|
|
|
|
48,419,602
|
|
|
|
|
|
|
|
|
Total quoted market price
|
|
|
65,996,200
|
|
|
|
49,818,996
|
|
|
|
|
|
|
|
|
|
|
Estimated fair value:
|
|
|
|
|
|
|
|
|
Participant loans
|
|
|
999,883
|
|
|
|
837,386
|
|
Common collective trust fund:
|
|
|
|
|
|
|
|
|
Fidelity Managed Income Portfolio
|
|
|
13,347,518
|
|
|
|
10,198,774
|
|
|
|
|
|
|
|
|
Total estimated fair value
|
|
|
14,347,401
|
|
|
|
11,036,160
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments at fair value
|
|
$
|
80,343,601
|
|
|
$
|
60,855,156
|
|
|
|
|
|
|
|
|
Net appreciation in the fair value of the Plans investments (including investments bought, sold,
and held during the year) for the years ended December 31, 2007 and 2006 is set forth below:
|
|
|
|
|
|
|
|
|
|
|
2007
|
|
|
2006
|
|
Investments at fair value as determined by:
|
|
|
|
|
|
|
|
|
Quoted market price:
|
|
|
|
|
|
|
|
|
Common stock
|
|
$
|
206,136
|
|
|
$
|
91,186
|
|
Mutual funds
|
|
|
742,482
|
|
|
|
2,120,296
|
|
|
|
|
|
|
|
|
|
|
$
|
948,618
|
|
|
$
|
2,211,482
|
|
|
|
|
|
|
|
|
(4)
|
|
Tax status
|
|
|
|
The Internal Revenue Service has determined and informed the Employer by a letter dated December
6, 2005 that the Plan and related trust are designed in accordance with applicable sections of
the Internal Revenue Code. Subsequent to this determination by the Internal Revenue Service, the
Plan was amended. Once qualified, the Plan is required to operate in conformity with the Code to
maintain its qualification. The Committee believes the Plan is being operated in compliance with
the applicable requirements of the Code and, therefore, believes that the Plan, as amended, is
qualified and the related trust is tax exempt.
|
|
(5)
|
|
Plan administration
|
|
|
|
A Committee, the members of which are appointed by the Board of Directors of the Employer,
administers the Plan.
|
10
(6)
|
|
Plan termination
|
|
|
|
Although the Employer has not expressed any intent to do so, the Employer has the right under the
Plan to discontinue their contributions at any time. The Employer has the right at any time, by
action of its Board of Directors, to terminate the Plan subject to provisions of ERISA. Upon Plan
termination or partial termination, participants will become fully vested in their accounts.
|
|
(7)
|
|
Parties-in-interest
|
|
|
|
Fidelity Management Trust Company, trustee of the Plan and its subsidiaries and affiliates,
maintain and manage certain investments of the Plan for which the Plan was charged.
|
|
|
|
The Employer provides certain administrative services to the Plan at no charge. The cost of
providing these services and the payment of these costs by the Employer, which is a
party-in-interest, constitute exempt party-in-interest transactions under ERISA.
|
|
(8)
|
|
Reconciliation of financial statements to Form 5500
|
|
|
|
The following is a reconciliation of net assets available for benefits per the financial
statements to Form 5500:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2007
|
|
2006
|
|
|
Net assets available for benefits per the financials statements
|
|
$
|
89,553,332
|
|
|
$
|
68,453,188
|
|
|
|
Adjustment from contract value to fair value
for fully benefit-responsive investment contracts
|
|
|
(145,054
|
)
|
|
|
(102,505
|
)
|
|
|
Amounts allocated to withdrawing participants
|
|
|
(576,595
|
)
|
|
|
(86,276
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets available for benefits per Form 5500
|
|
$
|
88,831,683
|
|
|
$
|
68,264,407
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following is a reconciliation of the net increase in net assets available for benefits per
the financial statements to Form 5500:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase in assets per the financial statements
|
|
$
|
21,100,144
|
|
|
|
|
|
|
|
Net investment income difference between
fair value and contract value:
|
|
|
|
|
|
|
|
|
|
|
At December 31, 2007
|
|
|
(145,054
|
)
|
|
|
|
|
|
|
At December 31, 2006
|
|
|
102,505
|
|
|
|
|
|
|
|
Amounts allocated to withdrawing participants:
|
|
|
|
|
|
|
|
|
|
|
At December 31, 2007
|
|
|
(576,595
|
)
|
|
|
|
|
|
|
At December 31, 2006
|
|
|
86,276
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per Form 5500
|
|
$
|
20,567,276
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following is a reconciliation of benefits paid to participants per the financial statements
to Form 5500:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefits paid to participants per the financial statements
|
|
$
|
6,691,167
|
|
|
|
|
|
|
|
Deemed distributions of participant loans
|
|
|
(5,691
|
)
|
|
|
|
|
|
|
Excess contribution refunded in 2007
|
|
|
(2,680
|
)
|
|
|
|
|
|
|
Amounts allocated to withdrawing participants:
|
|
|
|
|
|
|
|
|
|
|
At December 31, 2007
|
|
|
576,595
|
|
|
|
|
|
|
|
At December 31, 2006
|
|
|
(86,276
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefits paid to participants per Form 5500
|
|
$
|
7,173,115
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts allocated to withdrawing participants are recorded on Form 5500 for benefits claims that
have been processed and approved for payment prior to December 31, but not yet paid as of that
date.
|
11
Abercrombie & Fitch Co. Savings and Retirement Plan
EIN #31-1469076 Plan #001
Schedule H Line 4i
Schedule of Assets Held at End of Year December 31, 2007
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
|
(b)
|
|
(c)
|
|
(d)
|
|
|
(e)
|
|
|
|
|
|
Description of
|
|
|
|
|
|
|
|
|
|
|
|
investment including
|
|
|
|
|
|
|
|
|
|
|
|
maturity date, rate
|
|
|
|
|
|
|
|
|
|
|
|
of interest,
|
|
|
|
|
|
|
|
|
|
Identity of issuer,
|
|
collateral,
|
|
|
|
|
|
|
|
|
|
borrower, lessor, or
|
|
par or maturity
|
|
|
|
|
|
Current
|
|
|
|
similar party
|
|
value
|
|
Cost **
|
|
|
Value
|
|
|
*
|
|
Abercrombie & Fitch Co., Class A
|
|
Common stock -- 16,598 shares
|
|
|
|
|
|
$
|
1,327,230
|
|
*
|
|
Fidelity Diversified International Fund
|
|
Mutual fund -- 202,186 shares
|
|
|
|
|
|
|
8,067,206
|
|
*
|
|
Fidelity Contrafund
|
|
Mutual fund -- 90,040 shares
|
|
|
|
|
|
|
6,582,837
|
|
*
|
|
Fidelity Spartan U.S. Equity Index Fund
|
|
Mutual fund -- 113,101 shares
|
|
|
|
|
|
|
5,869,955
|
|
*
|
|
Fidelity Blue Chip Growth Fund
|
|
Mutual fund -- 123,328 shares
|
|
|
|
|
|
|
5,433,816
|
|
|
|
Artisan Mid Cap Fund
|
|
Mutual fund -- 170,429 shares
|
|
|
|
|
|
|
5,273,085
|
|
*
|
|
Fidelity Freedom 2040 Fund
|
|
Mutual fund -- 507,621 shares
|
|
|
|
|
|
|
4,939,148
|
|
*
|
|
Fidelity Freedom 2020 Fund
|
|
Mutual fund -- 310,080 shares
|
|
|
|
|
|
|
4,902,350
|
|
*
|
|
Fidelity Balanced Fund
|
|
Mutual fund -- 223,352 shares
|
|
|
|
|
|
|
4,379,926
|
|
*
|
|
Fidelity Value Fund
|
|
Mutual fund -- 49,474 shares
|
|
|
|
|
|
|
3,711,046
|
|
|
|
PIMCO Total Return Fund
|
|
Mutual fund -- 312,940 shares
|
|
|
|
|
|
|
3,345,332
|
|
|
|
Allianz NFJ Small Cap Value Fund
|
|
Mutual fund -- 80,768 shares
|
|
|
|
|
|
|
2,390,735
|
|
*
|
|
Fidelity Small Cap Independence Fund
|
|
Mutual fund -- 111,448 shares
|
|
|
|
|
|
|
2,218,938
|
|
*
|
|
Fidelity Equity Income Fund
|
|
Mutual fund -- 33,710 shares
|
|
|
|
|
|
|
1,859,439
|
|
*
|
|
Fidelity Freedom 2030 Fund
|
|
Mutual fund -- 81,337 shares
|
|
|
|
|
|
|
1,343,686
|
|
*
|
|
Fidelity Freedom 2035 Fund
|
|
Mutual fund -- 83,079 shares
|
|
|
|
|
|
|
1,136,520
|
|
*
|
|
Fidelity Freedom 2010 Fund
|
|
Mutual fund -- 65,049 shares
|
|
|
|
|
|
|
964,023
|
|
*
|
|
Fidelity Freedom Income Fund
|
|
Mutual fund -- 71,080 shares
|
|
|
|
|
|
|
813,867
|
|
*
|
|
Fidelity Freedom 2025 Fund
|
|
Mutual fund -- 43,591 shares
|
|
|
|
|
|
|
574,526
|
|
*
|
|
Fidelity Freedom 2015 Fund
|
|
Mutual fund -- 24,043 shares
|
|
|
|
|
|
|
299,811
|
|
*
|
|
Fidelity Freedom 2045 Fund
|
|
Mutual fund -- 25,765 shares
|
|
|
|
|
|
|
292,435
|
|
*
|
|
Fidelity Freedom 2050 Fund
|
|
Mutual fund -- 12,635 shares
|
|
|
|
|
|
|
144,418
|
|
*
|
|
Fidelity Freedom 2000 Fund
|
|
Mutual fund -- 9,071 shares
|
|
|
|
|
|
|
112,212
|
|
*
|
|
Fidelity Freedom 2005 Fund
|
|
Mutual fund -- 1,159 shares
|
|
|
|
|
|
|
13,659
|
|
*
|
|
Fidelity Managed Income Portfolio
|
|
Common collective trust --
13,492,572 units
|
|
|
|
|
|
|
13,347,518
|
|
|
|
|
|
|
Participant Loans
|
|
Interest 5.75% -- 9.25%
|
|
|
|
|
|
|
999,883
|
|
|
|
|
*
|
|
Represents a party-in-interest.
|
|
**
|
|
Cost information omitted investment is part of an individual account plan that a
participant or beneficiary directed with respect to assets allocated to his or her account.
|
The accompanying notes are an integral part of this schedule.
12
SIGNATURES
|
|
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or
other persons who administer the employee benefit plan) have duly caused this annual report to be
signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
|
|
ABERCROMBIE & FITCH CO. SAVINGS AND RETIREMENT PLAN
|
|
|
|
|
|
Date: June 26, 2008
|
|
By:
|
|
/s/ Kevin Flatley
|
|
|
|
|
|
|
|
|
|
Kevin Flatley
|
|
|
|
|
Vice President Compensation and Benefits
|
|
|
|
|
Abercrombie & Fitch Co.
|
13
ABERCROMBIE & FITCH CO.
SAVINGS AND RETIREMENT PLAN
ANNUAL REPORT ON FORM 11-K
FOR FISCAL YEAR ENDED DECEMBER 31, 2007
INDEX TO EXHIBIT
|
|
|
|
|
|
|
Exhibit No.
|
|
Description
|
|
Page No.
|
23.01
|
|
Consent of Independent Registered Public Accounting Firm
|
|
|
15
|
|
14
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From May 2024 to Jun 2024
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From Jun 2023 to Jun 2024