What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-09-04 compared with 2026-06-05 · 244 added, 120 removed, 557 unchanged (40% of the section changed)

3 unchanged sentences

(Thousands, except per share amounts)

Thirteen Weeks Ended

May 2, 2026 May 3, 2025

Thirteen Weeks Ended Twenty-Six Weeks Ended

August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Net sales $ 1,266,689 $ 1,208,560 $ 2,380,510 $ 2,305,871

18 unchanged sentences

Diluted 44,051 48,551 44,864 49,592

Other comprehensive income (loss)

Other comprehensive income

Foreign currency translation adjustments, net of tax $ ( 644 ) $ 2,153 $ ( 1,725 ) $ 12,815

Derivative financial instruments, net of tax 2,179 1,048 4,233 ( 11,492 )

Other comprehensive income (loss) 973 ( 1,878 )

Other comprehensive income 1,535 3,201 2,508 1,323

Comprehensive income 187,074 146,589 256,166 226,450

7 unchanged sentences

(Thousands, except par value amounts)

May 2, 2026 January 31, 2026

August 1, 2026 January 31, 2026

Current assets:

29 unchanged sentences

Treasury stock, at average cost:

58,869 and 58,295 shares as of May 2, 2026 and January 31, 2026, respectively

60,866 and 58,295 shares as of August 1, 2026 and January 31, 2026, respectively

( 2,866,721 ) ( 2,590,446 )

10 unchanged sentences

(Thousands, except per share amounts)

Thirteen Weeks Ended May 2, 2026

Thirteen Weeks Ended August 1, 2026

Common Stock Paid-in

4 unchanged sentences

value Shares At average

Balance, May 2, 2026 44,431 $ 1,033 $ 395,493 $ 13,806 $ 3,757,114 $ ( 125,195 ) 58,869 $ ( 2,688,355 ) $ 1,353,896

Net income — — — 1,819 183,720 — — — 185,539

Purchase of Common Stock (1)

( 2,015 ) — — — — — 2,015 ( 179,184 ) ( 179,184 )

Share-based compensation issuances and exercises 18 — ( 958 ) — — — ( 18 ) 818 ( 140 )

Share-based compensation expense — — 8,500 — — — — — 8,500

Derivative financial instruments, net of tax — — — — — 2,179 — — 2,179

Foreign currency translation adjustments, net of tax — — — — — ( 644 ) — — ( 644 )

Distribution to noncontrolling interests, net

— — — ( 484 ) — — — — ( 484 )

Ending balance at August 1, 2026 42,434 $ 1,033 $ 403,035 $ 15,141 $ 3,940,834 $ ( 123,660 ) 60,866 $ ( 2,866,721 ) $ 1,369,662

Thirteen Weeks Ended August 2, 2025

Common Stock Paid-in

capital Non-controlling interests Retained

earnings AOCL Treasury stock Total

stockholders’

outstanding Par

value Shares At average

Balance, May 3, 2025 47,643 $ 1,033 $ 396,750 $ 13,468 $ 3,272,657 $ ( 141,029 ) 55,657 $ ( 2,340,285 ) $ 1,202,594

Net income — — — 2,005 141,383 — — — 143,388

Purchase of Common Stock (1)

( 599 ) — — — — — 599 ( 50,480 ) ( 50,480 )

Share-based compensation issuances and exercises 23 — ( 1,660 ) — ( 7 ) — ( 23 ) 899 ( 768 )

Share-based compensation expense — — 9,793 — — — — — 9,793

Derivative financial instruments, net of tax — — — — — 1,048 — — 1,048

Foreign currency translation adjustments, net of tax — — — — — 2,153 — — 2,153

Distribution to noncontrolling interests, net

— — — ( 524 ) — — — — ( 524 )

Ending balance at August 2, 2025 47,067 $ 1,033 $ 404,883 $ 14,949 $ 3,414,033 $ ( 137,828 ) 56,233 $ ( 2,389,866 ) $ 1,307,204

(1) Includes commissions and excise tax on share repurchases

Abercrombie & Fitch Co.

2026 2Q Form 10-Q

Abercrombie & Fitch Co.

Condensed Consolidated Statements of Stockholders’ Equity

(Thousands, except per share amounts)

Twenty-Six Weeks Ended August 1, 2026

Common Stock Paid-in

capital Non-controlling interests Retained

earnings AOCL Treasury stock Total

stockholders’

outstanding Par

value Shares At average

Balance, January 31, 2026 45,005 $ 1,033 $ 421,662 $ 16,516 $ 3,697,814 $ ( 126,168 ) 58,295 $ ( 2,590,446 ) $ 1,420,411

8 unchanged sentences

— — — ( 4,179 ) — — — — ( 4,179 )

Ending balance at May 2, 2026 44,431 $ 1,033 $ 395,493 $ 13,806 $ 3,757,114 $ ( 125,195 ) 58,869 $ ( 2,688,355 ) $ 1,353,896

Thirteen Weeks Ended May 3, 2025

Ending balance at August 1, 2026 42,434 $ 1,033 $ 403,035 $ 15,141 $ 3,940,834 $ ( 123,660 ) 60,866 $ ( 2,866,721 ) $ 1,369,662

Twenty-Six Weeks Ended August 2, 2025

Common Stock Paid-in

7 unchanged sentences

Purchase of Common Stock ( 3,248 ) — — — — — 3,248 ( 252,046 ) ( 252,046 )

( 2,649 ) 2,649 ( 201,566 ) ( 201,566 )

Share-based compensation issuances and exercises 580 — ( 38,413 ) — ( 4,487 ) — ( 580 ) 8,070 ( 34,830 )

4 unchanged sentences

— — — ( 4,077 ) — — — — ( 4,077 )

Ending balance at May 3, 2025 47,643 $ 1,033 $ 396,750 $ 13,468 $ 3,272,657 $ ( 141,029 ) 55,657 $ ( 2,340,285 ) $ 1,202,594

Ending balance at August 2, 2025 47,067 $ 1,033 $ 404,883 $ 14,949 $ 3,414,033 $ ( 137,828 ) 56,233 $ ( 2,389,866 ) $ 1,307,204

(1) Includes commissions and excise tax on share repurchases

The accompanying Notes are an integral part of these Condensed Consolidated Financial Statements.

Abercrombie & Fitch Co.

2 unchanged sentences

Condensed Consolidated Statements of Cash Flows

Thirteen Weeks Ended

May 2, 2026 May 3, 2025

Twenty-Six Weeks Ended

August 1, 2026 August 2, 2025

Operating activities

Net income $ 253,658 $ 225,127

Adjustments to reconcile net income to net cash provided by (used for) operating activities:

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization 85,583 76,000

5 unchanged sentences

Changes in assets and liabilities:

Accounts receivable ( 43,749 ) ( 66,739 )

Inventories 8,881 ( 15,164 )

4 unchanged sentences

Other liabilities ( 4,198 ) ( 5,008 )

Net cash provided by (used for) operating activities 44,256 ( 4,000 )

Net cash provided by operating activities 313,401 112,893

Investing activities

1 unchanged sentence

Proceeds from maturities of marketable securities

34,600 85,000

Purchases of property and equipment ( 129,357 ) ( 116,943 )

17 unchanged sentences

Cash paid for income taxes 69,100 104,766

Cash paid for excise tax on share repurchases

Cash received from income tax refunds 945 566

8 unchanged sentences

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

INTERCHANGE FEE SETTLEMENT

REVENUE RECOGNITION

NET INCOME (LOSS) PER SHARE

NET INCOME PER SHARE

PROPERTY AND EQUIPMENT, NET

17 unchanged sentences

Corporate functions and other income and expenses are evaluated on a consolidated basis and are not allocated to the Company’s segments, and therefore are included as a reconciling item between segment and total operating income.

The Company’s brand families include Abercrombie brands and Hollister brands.

These brands share a commitment to offering unique products of enduring quality and exceptional comfort that allow customers around the world to express their own individuality and style.

The Company operates a family of brands, including Abercrombie brands and Hollister, with a shared commitment to offering products of enduring quality and exceptional comfort that support global customers on their journey to being and becoming who they are.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

15 unchanged sentences

Interim financial statements

The Condensed Consolidated Financial Statements as of May 2, 2026, and for the thirteen week periods ended May 2, 2026 and May 3, 2025, are unaudited and are presented pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim consolidated financial statements.

The Condensed Consolidated Financial Statements as of August 1, 2026, and for the thirteen and twenty-six week periods ended August 1, 2026 and August 2, 2025, are unaudited and are presented pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim consolidated financial statements.

Accordingly, the Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto contained in A&F’s Annual Report on Form 10-K for Fiscal 2025 filed with the SEC on March 26, 2026 (the “Fiscal 2025 Form 10-K”).

29 unchanged sentences

The following table provides a reconciliation of cash and equivalents and restricted cash and equivalents to the amounts shown on the Condensed Consolidated Statements of Cash Flows:

(in thousands) Location May 2, 2026 January 31, 2026 May 3, 2025 February 1, 2025

(in thousands) Location August 1, 2026 January 31, 2026 August 2, 2025 February 1, 2025

Cash and equivalents Cash and equivalents $ 627,716 $ 759,540 $ 572,730 $ 772,727

12 unchanged sentences

The agreement with the financial institution does not require the Company to provide assets pledged as security or other forms of guarantees for the SCF program.

As of May 2, 2026 and January 31, 2026, $ 49.9 million and $ 75.3 million of SCF program liabilities were recorded in accounts payable in the Condensed Consolidated Balance Sheets, respectively.

As of August 1, 2026 and January 31, 2026, $ 71.2 million and $ 75.3 million of SCF program liabilities were recorded in accounts payable in the Condensed Consolidated Balance Sheets, respectively.

Amounts are reflected as cash used for operating activities in the Condensed Consolidated Statements of Cash Flows when settled.

INTERCHANGE FEE SETTLEMENT

Litigation settlement

During the second quarter of Fiscal 2025 , the Company entered into a settlement related to the resolution of a payment card interchange fee litigation in which it was a plaintiff.

The settlement resulted in a $ 39 million net benefit recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income for the thirteen and twenty-six weeks ended August 2, 2025.

The net benefit is comprised of a $ 43 million settlement benefit recorded within selling expense and a $ 4 million settlement-related expense recorded within general and administrative expense.

REVENUE RECOGNITION

3 unchanged sentences

Contract liabilities

The following table details certain contract liabilities representing unearned revenue as of May 2, 2026, January 31, 2026, May 3, 2025, and February 1, 2025:

(in thousands) May 2, 2026 January 31, 2026 May 3, 2025 February 1, 2025

The following table details certain contract liabilities representing unearned revenue as of August 1, 2026, January 31, 2026, August 2, 2025, and February 1, 2025:

(in thousands) August 1, 2026 January 31, 2026 August 2, 2025 February 1, 2025

Gift card liability $ 35,310 $ 48,057 $ 35,363 $ 45,364

$ 40,218 $ 48,057 $ 39,391 $ 45,364

Loyalty programs liability 35,494 36,878 34,695 32,199

(1) Includes $ 13.4 million and $ 9.6 million of revenue recognized during the thirteen weeks ended May 2, 2026 and May 3, 2025, respectively, that was included in the gift card liability at the beginning of January 31, 2026 and February 1, 2025, respectively.

The following table details recognized revenue associated with the Company’s gift card program and loyalty programs for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

The following table details recognized revenue associated with the Company’s gift card program and loyalty programs for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Revenue associated with gift card redemptions and gift card breakage (1)

$ 27,411 $ 28,743 $ 58,888 $ 59,643

Revenue associated with reward redemptions and breakage related to the Company’s loyalty programs 17,476 17,008 33,227 32,320

(1) During the thirteen weeks ended August 1, 2026 and August 2, 2025, the Company recognized revenue of $ 10.2 million and $ 10.4 million related to the gift card liability balance that existed on May 2, 2026 and May 3, 2025, respectively.

During the twenty-six weeks ended August 1, 2026 and August 2, 2025, the Company recognized revenue of $ 19.6 million and $ 18.0 million related to the gift card liability balance that existed on January 31, 2026 and February 1, 2025, respectively.

Abercrombie & Fitch Co.

2 unchanged sentences

Net income per basic and diluted share attributable to A&F is computed based on the weighted-average number of outstanding shares of A&F’s Class A Common Stock, $0.01 par value (“Common Stock”).

The following table provides additional information pertaining to net income per share attributable to A&F for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

The following table provides additional information pertaining to net income per share attributable to A&F for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Shares of Common Stock issued 103,300 103,300 103,300 103,300

4 unchanged sentences

Anti-dilutive shares (1)

712 604 724 563

(1) Reflects the total number of shares related to outstanding share-based compensation awards that have been excluded from the computation of net income per diluted share because the impact would have been anti-dilutive.

7 unchanged sentences

The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.

The following table provides the three levels of the hierarchy and the distribution of the Company’s assets measured at fair value on a recurring basis, as of May 2, 2026 and January 31, 2026:

Assets and Liabilities at Fair Value as of May 2, 2026

The following table provides the three levels of the hierarchy and the distribution of the Company’s assets measured at fair value on a recurring basis, as of August 1, 2026 and January 31, 2026:

Assets and Liabilities at Fair Value as of August 1, 2026

(in thousands) Level 1 Level 2 Level 3 Total

2 unchanged sentences

Derivative instruments (2)

— 1,884 — 1,884

Rabbi Trust assets (3)

23 unchanged sentences

(2) Level 2 assets and liabilities consisted primarily of foreign currency exchange forward contracts.

Abercrombie & Fitch Co.

2026 1Q Form 10-Q

(3) Level 1 assets consisted of investments in money market funds.

Level 2 assets consisted of trust-owned life insurance policies.

Abercrombie & Fitch Co.

2026 2Q Form 10-Q

The Company’s Level 2 assets and liabilities consisted of:

5 unchanged sentences

PROPERTY AND EQUIPMENT, NET

The following table provides property and equipment, net as of May 2, 2026 and January 31, 2026:

(in thousands) May 2, 2026 January 31, 2026

The following table provides property and equipment, net as of August 1, 2026 and January 31, 2026:

(in thousands) August 1, 2026 January 31, 2026

Property and equipment, at cost $ 2,913,318 $ 2,815,744

1 unchanged sentence

Property and equipment, net $ 708,576 $ 674,079

Refer to Note 8, “ ASSET IMPAIRMENT ,” for details related to property and equipment impairment charges incurred during the thirteen weeks ended May 2, 2026 and May 3, 2025.

Refer to Note 9, “ ASSET IMPAIRMENT ,” for details related to property and equipment impairment charges incurred during the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025.

The Company is a party to leases related to its Company-operated retail stores, as well as for certain of its distribution centers, office space, information technology and equipment.

The following table provides a summary of the Company’s operating lease costs for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

The following table provides a summary of the Company’s operating lease costs for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Single lease cost (1)

3 unchanged sentences

Operating lease right-of-use asset impairment (3)

971 623 1,639 1,072

Sublease income

4 unchanged sentences

(3) Refer to Note 9, “ ASSET IMPAIRMENT ,” for details related to operating lease right-of-use asset impairment charges.

The Company had minimum commitments related to operating lease contracts that have not yet commenced, primarily for certain Company-operated retail stores, of approximately $ 53.1 million as of May 2, 2026.

Abercrombie & Fitch Co.

1 unchanged sentence

ASSET IMPAIRMENT

The following table provides asset impairment charges for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

The following table provides asset impairment charges for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Operating lease right-of-use asset impairment $ 971 $ 623 $ 1,639 $ 1,072

Property and equipment asset impairment 483 1,228 2,000 1,458

Intangible asset impairment

Total asset impairment $ 1,454 $ 2,773 $ 3,639 $ 3,452

Asset impairment charges for the thirteen weeks ended May 2, 2026 and May 3, 2025 related to certain of the Company’s store assets, primarily in the EMEA and APAC segments.

The store impairment charges for the thirteen weeks ended May 2, 2026 reduced the then carrying amount of the impaired stores’ assets to their fair value of approximately $ 83.1 million, including $ 63.7 million related to operating lease right-of-use assets.

Asset impairment charges for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025 related to certain of the Company’s store assets, primarily in the EMEA and APAC segments.

T he store impairment charges for the thirteen and twenty-six weeks ended August 1, 2026 reduced the then carrying amount of the impaired stores’ assets to their fair value of approximately $ 79.5 million, including $ 60.0 million related to operating lease right-of-use assets.

The quarterly provision for income taxes is based on the current estimate of the annual effective income tax rate and the tax effect of discrete items occurring during the quarter.

4 unchanged sentences

Impact of valuation allowances

During the thirteen weeks ended May 2, 2026, the Company did not recognize income tax benefits on $ 24.9 million of pretax losses, primarily in Switzerland, resulting in adverse tax impacts of $ 3.9 million.

As of May 2, 2026, the Company had foreign net deferred tax assets of approximately $ 39.1 million, including $ 13.6 million and $ 13.5 million in the United Kingdom and China, respectively.

During the thirteen and twenty-six weeks ended August 1, 2026, the Company did not recognize income tax benefits on $ 19.0 million and $ 43.9 million respectively, of pretax losses, primarily in Switzerland, resulting in adverse tax impacts of $ 3.0 million and $ 6.9 million, respectively.

As of August 1, 2026, the Company had foreign net deferred tax assets of approximately $ 38.8 million, including $ 13.5 million and $ 13.7 million in the United Kingdom and China, respectively.

While the Company believes that these net deferred tax assets are more-likely-than-not to be realized, it is not a certainty, as the Company continues to evaluate and respond to situations as they emerge.

1 unchanged sentence

Additional valuation allowances would result in additional tax expense.

During the thirteen weeks ended May 3, 2025, the Company did not recognize income tax benefits on $ 10.0 million of pre-tax losses, primarily in Switzerland, resulting in adverse tax impacts of $ 1.5 million.

During the thirteen and twenty-six weeks ended August 2, 2025, the Company did not recognize income tax benefits on $ 21.8 million and $ 31.8 million, respectively, of pretax losses, primarily in Switzerland, resulting in adverse tax impacts of $ 3.4 million and $ 4.9 million, respectively.

As of January 31, 2026, the Company had foreign net deferred tax assets of approximately $ 35.1 million, including $ 13.2 million and $ 11.7 million in the United Kingdom and China, respectively.

Share-based compensation

Refer to Note 11, “ SHARE-BASED COMPENSATION ,” for details on income tax benefits and charges related to share-based compensation awards during the thirteen weeks ended May 2, 2026 and May 3, 2025.

Refer to Note 12, “ SHARE-BASED COMPENSATION ,” for details on income tax benefits and charges related to share-based compensation awards during the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025.

Abercrombie & Fitch Co.

4 unchanged sentences

Financial Statements and Supplementary Data” of the Fiscal 2025 Form 10-K.

The Company did not have any borrowings outstanding under the ABL Facility as of May 2, 2026 or as of January 31, 2026.

As of May 2, 2026, availability under the ABL Facility was $ 499.5 million, net of $ 0.5 million in outstanding stand-by letters of credit.

As the Company must maintain excess availability equal to the greater of 10% of the loan cap or $36 million under the ABL Facility, borrowing capacity available to the Company under the ABL Facility was $ 449.5 million as of May 2, 2026.

The Company did not have any borrowings outstanding under the ABL Facility as of August 1, 2026 or as of January 31, 2026.

As of August 1, 2026, availability under the ABL Facility was $ 499.5 million, net of $ 0.5 million in outstanding stand-by letters of credit.

Representations, warranties and covenants

8 unchanged sentences

Certain of the agreements related to the ABL Facility also contain certain affirmative covenants, including reporting requirements such as delivery of financial statements, certificates and notices of certain events, maintaining insurance and providing additional guarantees and collateral in certain circumstances.

The Company was in compliance with all debt covenants under these agreements as of May 2, 2026.

The Company was in compliance with all debt covenants under these agreements as of August 1, 2026.

SHARE-BASED COMPENSATION

Financial statement impact

The following table provides share-based compensation expense and the related income tax impacts for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

The following table provides share-based compensation expense and the related income tax impacts for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Share-based compensation expense $ 8,500 $ 9,793 $ 20,575 $ 20,384

Income tax benefits associated with share-based compensation expense recognized

The following table provides discrete income tax benefits and charges related to share-based compensation awards during the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

1,409 1,487 3,071 2,885

The following table provides discrete income tax benefits and charges related to share-based compensation awards during the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Income tax discrete benefits realized for tax deductions related to the issuance of shares

$ 38 $ 247 $ 3,597 $ 4,838

The following table provides the amount of employee tax withheld by the Company upon the issuance of shares associated with restricted stock units vesting for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

The following table provides the amount of employee tax withheld by the Company upon the issuance of shares associated with restricted stock units vesting for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Employee tax withheld upon issuance of shares (1)

4 unchanged sentences

Restricted stock units

The following table provides the summarized activity for restricted stock units for the thirteen weeks ended May 2, 2026:

The following table provides the summarized activity for restricted stock units for the twenty-six weeks ended August 1, 2026:

Service-based Restricted

16 unchanged sentences

Forfeited ( 41,607 ) 76.72 ( 5,480 ) 86.11 ( 2,741 ) 106.22

Unvested at May 2, 2026 (1)

Unvested at August 1, 2026 (1)

865,834 $ 80.84 240,972 $ 90.95 120,507 $ 116.05

1 unchanged sentence

Unvested shares related to restricted stock units with performance-based and market-based vesting conditions can be achieved from zero up to 200% of their target vesting amount.

The following table provides the unrecognized compensation cost and the remaining weighted-average period over which these costs are expected to be recognized for restricted stock units as of May 2, 2026:

Service-based Restricted

4 unchanged sentences

Remaining weighted-average period cost is expected to be recognized (years)

The following table provides additional information pertaining to restricted stock units for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

The following table provides additional information pertaining to restricted stock units for the twenty-six weeks ended August 1, 2026 and August 2, 2025:

Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025

Service-based restricted stock units:

7 unchanged sentences

Total grant date fair value of awards vested 8,094 7,214

The following table provides the weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

May 2, 2026 May 3, 2025

The following table provides the weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the twenty-six weeks ended August 1, 2026 and August 2, 2025:

Twenty-Six Weeks Ended

August 1, 2026 August 2, 2025

Grant date market price $ 86.42 $ 78.69

20 unchanged sentences

The Company has chosen not to apply hedge accounting to these instruments because there are no differences in the timing of gain or loss recognition on the hedging instruments and the hedged items.

As of May 2, 2026, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge either a portion, or all, of forecasted foreign-currency-denominated intercompany transactions:

As of August 1, 2026, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge either a portion, or all, of forecasted foreign-currency-denominated intercompany transactions:

(in thousands) Notional Amount (1)

3 unchanged sentences

(1) Amounts reported are the U.S.

dollar notional amounts outstanding as of May 2, 2026.

As of May 2, 2026, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge foreign-currency-denominated net monetary assets and liabilities:

(in thousands) Notional Amount (1)

(1) Amounts reported are the U.S.

dollar notional amounts outstanding as of May 2, 2026.

dollar notional amounts outstanding as of August 1, 2026.

The fair value of derivative instruments is determined using quoted market prices of the same or similar instruments, adjusted for counterparty risk.

The following table provides the location and amounts of derivative fair values of foreign currency exchange forward contracts on the Condensed Consolidated Balance Sheets as of May 2, 2026 and January 31, 2026:

(in thousands) Location May 2, 2026 January 31, 2026 Location May 2, 2026 January 31, 2026

(in thousands) Location August 1, 2026 January 31, 2026 Location August 1, 2026 January 31, 2026

Derivatives designated as cash flow hedging instruments Other current assets

5 unchanged sentences

$ 1,884 $ 350 $ 296 $ 2,336

The following table provides information pertaining to derivative gains or losses from foreign currency exchange forward contracts designated as cash flow hedging instruments for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Net gain (loss) recognized in AOCL (1)

$ 2,850 $ ( 1,239 ) $ 4,240 $ ( 12,575 )

Net (loss) gain reclassified from AOCL to cost of sales, exclusive of depreciation and amortization (2)

Net gain (loss) reclassified from AOCL to cost of sales, exclusive of depreciation and amortization (2)

453 ( 2,328 ) ( 242 ) ( 728 )

4 unchanged sentences

2026 2Q Form 10-Q

The following table provides additional information pertaining to derivative gains or losses from foreign currency exchange forward contracts not designated as hedging instruments for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

Net (loss) gain, net recognized in other operating (income) loss, net

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Net gain (loss) recognized in other operating (income) loss, net

$ 110 $ 318 $ ( 1 ) $ 684

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables provide activity in AOCL for the thirteen weeks ended May 2, 2026:

Thirteen Weeks Ended May 2, 2026

The following tables provide activity in AOCL for the thirteen and twenty-six weeks ended August 1, 2026:

Thirteen Weeks Ended August 1, 2026

(in thousands) Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Derivative Financial Instruments Total

Beginning balance at May 2, 2026 $ ( 124,616 ) $ ( 579 ) $ ( 125,195 )

Other comprehensive (loss) income before reclassifications ( 644 ) 2,850 2,206

Reclassified net gain from AOCL (1)

— ( 453 ) ( 453 )

Tax effect — ( 218 ) ( 218 )

Other comprehensive (loss) income after reclassifications ( 644 ) 2,179 1,535

Ending balance at August 1, 2026 $ ( 125,260 ) $ 1,600 $ ( 123,660 )

Twenty-Six Weeks Ended August 1, 2026

(in thousands) Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Derivative Financial Instruments Total

Beginning balance at January 31, 2026 $ ( 123,535 ) $ ( 2,633 ) $ ( 126,168 )

Other comprehensive (loss) income before reclassifications ( 1,725 ) 4,240 2,515

Reclassified net loss from AOCL (1)

Reclassified loss from AOCL (1)

Tax effect — ( 249 ) ( 249 )

Other comprehensive (loss) income after reclassifications ( 1,725 ) 4,233 2,508

Ending balance at May 2, 2026 $ ( 124,616 ) $ ( 579 ) $ ( 125,195 )

Ending balance at August 1, 2026 $ ( 125,260 ) $ 1,600 $ ( 123,660 )

(1) Amount represents gains and losses reclassified from AOCL to cost of sales, exclusive of depreciation and amortization, on the Condensed Consolidated Statements of Operations and Comprehensive Income.

The following tables provide activity in AOCL for the thirteen weeks ended May 3, 2025:

Thirteen Weeks Ended May 3, 2025

The following tables provide activity in AOCL for the thirteen and twenty-six weeks ended August 2, 2025:

Thirteen Weeks Ended August 2, 2025

(in thousands) Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Derivative Financial Instruments Total

Beginning balance at February 1, 2025 $ ( 143,883 ) $ 4,732 $ ( 139,151 )

Beginning balance at May 3, 2025 $ ( 133,221 ) $ ( 7,808 ) $ ( 141,029 )

Other comprehensive income (loss) before reclassifications 2,153 ( 1,239 ) 914

Reclassified net gain from AOCL (1)

Reclassified net loss from AOCL (1)

— 2,328 2,328

Tax effect — ( 41 ) ( 41 )

Other comprehensive income after reclassifications 2,153 1,048 3,201

Ending balance at August 2, 2025 $ ( 131,068 ) $ ( 6,760 ) $ ( 137,828 )

Twenty-Six Weeks Ended August 2, 2025

(in thousands) Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Derivative Financial Instruments Total

Beginning balance at February 1, 2025 $ ( 143,883 ) $ 4,732 $ ( 139,151 )

Other comprehensive income (loss) before reclassifications 12,815 ( 12,575 ) 240

Reclassified loss from AOCL (1)

Tax effect — 355 355

Other comprehensive income (loss) after reclassifications 12,815 ( 11,492 ) 1,323

Ending balance at May 3, 2025 $ ( 133,221 ) $ ( 7,808 ) $ ( 141,029 )

Ending balance at August 2, 2025 $ ( 131,068 ) $ ( 6,760 ) $ ( 137,828 )

Abercrombie & Fitch Co.

2026 2Q Form 10-Q

SEGMENT REPORTING

12 unchanged sentences

Operating income (loss) for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributed to the segment.

Abercrombie & Fitch Co.

2026 1Q Form 10-Q

strategy, information technology, finance, treasury, legal, human resources, and other corporate support services, as well as certain globally managed components of the planning, merchandising, and marketing functions.

Corporate/other expenses include expenses incurred that are not directly attributed to a reportable segment and primarily relate to corporate or global functions such as design, sourcing, brand management, corporate strategy, information technology, finance, treasury, legal, human resources, and other corporate support services, as well as certain globally managed components of the planning, merchandising, and marketing functions.

The Company reports inventories by segment as that information is used by the CODM in determining allocation of resources to the segments.

The Company does not report its other assets by segment as that information is not used by the CODM in assessing segment performance or allocating resources.

The following tables provide the Company’s segment information for the thirteen weeks ended May 2, 2026 and May 3, 2025 and as of May 2, 2026, January 31, 2026 and May 3, 2025:

Thirteen Weeks Ended May 2, 2026

The following tables provide the Company’s segment information for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025 and as of August 1, 2026, January 31, 2026 and August 2, 2025:

Thirteen Weeks Ended August 1, 2026

(in thousands)

20 unchanged sentences

Total capital expenditures $ 68,016

Thirteen Weeks Ended May 3, 2025

Abercrombie & Fitch Co.

2026 2Q Form 10-Q

Thirteen Weeks Ended August 2, 2025

(in thousands) Americas (1)

22 unchanged sentences

Net sales in the U.S.

were $ 0.9 billion and $ 0.8 billion for the thirteen weeks ended May 2, 2026 and May 3, 2025, respectively.

were $ 1.0 billion and $ 0.9 billion for the thirteen weeks ended August 1, 2026 and August 2, 2025, respectively.

(2) Included in selling expense on the Condensed Consolidated Statements of Operations and Comprehensive Income.

1 unchanged sentence

(4) Corporate and other unallocated expenses represent corporate overhead expenses that have not been allocated to any segment.

Twenty-Six Weeks Ended August 1, 2026

(in thousands)

EMEA APAC Total

Net sales $ 1,920,481 $ 369,363 $ 90,666 $ 2,380,510

Cost of sales, exclusive of depreciation and amortization 616,445 131,916 31,586 779,947

Store occupancy (2)

188,382 68,672 23,967 281,021

Fulfillment (2)

165,075 42,638 11,240 218,953

Other expense (3)

337,051 95,489 28,154 460,694

Segment income (loss) $ 613,528 $ 30,648 $ ( 4,281 ) $ 639,895

Operating loss not attributed to segments:

Corporate and other unallocated expenses (4)

Operating income $ 341,497

Interest income, net

Income before income taxes

Depreciation and amortization $ 47,169 $ 13,699 $ 4,938 $ 65,806

Depreciation and amortization not attributed to segments 19,777

Total depreciation and amortization $ 85,583

Capital expenditures $ 86,811 $ 23,382 $ 2,112 $ 112,305

Capital expenditures not attributed to segments 17,052

Total capital expenditures $ 129,357

Abercrombie & Fitch Co.

2026 2Q Form 10-Q

(in thousands) May 2, 2026 January 31, 2026 May 3, 2025

Twenty-Six Weeks Ended August 2, 2025

(in thousands) Americas (1)

EMEA APAC Total

Net sales $ 1,849,004 $ 382,246 $ 74,621 $ 2,305,871

Cost of sales, exclusive of depreciation and amortization 690,492 150,998 27,233 868,723

Store occupancy (2)

175,056 59,080 22,607 256,743

Fulfillment (2)

153,754 46,343 9,834 209,931

Other expense (3)

282,913 85,261 25,324 393,498

Segment income (loss) $ 546,789 $ 40,564 $ ( 10,377 ) $ 576,976

Operating loss not attributed to segments:

Corporate and other unallocated expenses (4)

Operating income $ 308,191

Interest income, net

Income before income taxes

Depreciation and amortization $ 43,259 $ 11,508 $ 3,867 $ 58,634

Depreciation and amortization not attributed to segments 17,366

Total depreciation and amortization $ 76,000

Capital expenditures $ 71,996 $ 16,906 $ 8,861 $ 97,763

Capital expenditures not attributed to segments 19,180

Total capital expenditures $ 116,943

(1) Includes the U.S., Canada, and Latin America.

Net sales in the U.S.

were $ 1.8 billion and $ 1.8 billion for the twenty-six weeks ended August 1, 2026 and August 2, 2025, respectively.

(2) Included in selling expense on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(3) Other expense includes store payroll, other direct store controllable and marketing expenses included in selling expense, as well as allocated and support related expenses included in general and administrative expense on the Condensed Consolidated Statements of Operations and Comprehensive Income.

(4) Corporate and other unallocated expenses represent corporate overhead expenses that have not been allocated to any segment.

(in thousands) August 1, 2026 January 31, 2026 August 2, 2025

Americas $ 477,523 $ 480,078 $ 482,533

3 unchanged sentences

Assets not attributed to segments 3,003,194 2,940,656 2,708,975

2,920,273 2,940,656 2,554,117

Total assets $ 3,594,856 $ 3,541,874 $ 3,301,941

The Company’s long-lived assets and intellectual property, which primarily relates to trademark assets associated with the Company’s global operations, by geographic area as of May 2, 2026, January 31, 2026 and May 3, 2025 were as follows:

(in thousands) May 2, 2026 January 31, 2026 May 3, 2025

The Company’s long-lived assets and intellectual property, which primarily relates to trademark assets associated with the Company’s global operations, by geographic area as of August 1, 2026, January 31, 2026 and August 2, 2025 were as follows:

(in thousands) August 1, 2026 January 31, 2026 August 2, 2025

Americas (1) (2)

5 unchanged sentences

Long-lived assets and intellectual property located in the U.S.

were $ 1.2 billion, $ 1.1 billion, and $ 1.0 billion as of May 2, 2026, January 31, 2026, and May 3, 2025, respectively.

(2) Includes intellectual property of $ 2.9 million, $ 2.9 million, and $ 2.9 million as of May 2, 2026, January 31, 2026, and May 3, 2025, respectively.

(3) Includes intellectual property of $ 14.6 million, $ 14.8 million, and $ 16.4 million as of May 2, 2026, January 31, 2026, and May 3, 2025, respectively.

were $ 1.2 billion, $ 1.1 billion, and $ 1.1 billion as of August 1, 2026, January 31, 2026, and August 2, 2025, respectively.

(2) Includes intellectual property of $ 2.9 million, $ 2.9 million, and $ 2.9 million as of August 1, 2026, January 31, 2026, and August 2, 2025, respectively.

(3) Includes intellectual property of $ 14.4 million, $ 14.8 million, and $ 15.2 million as of August 1, 2026, January 31, 2026, and August 2, 2025, respectively.

Brand Information

The following table provides additional disaggregated revenue information, which is categorized by brand, for the thirteen weeks ended May 2, 2026 and May 3, 2025:

Thirteen Weeks Ended

(in thousands) May 2, 2026 May 3, 2025

The following table provides additional disaggregated revenue information, which is categorized by brand, for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

$ 596,808 $ 551,868 $ 1,161,527 $ 1,099,815

1 unchanged sentence

Total $ 1,266,689 $ 1,208,560 $ 2,380,510 $ 2,305,871

Abercrombie & Fitch Co.

2026 2Q Form 10-Q

CONTINGENCIES

4 unchanged sentences

Customs and Border Protection to refund IEEPA tariffs that were previously collected.

The Company will apply a gain contingency model in accordance with Accounting Standards Codification Topic 450, C ontingencies , to account for potential refunds of previously paid IEEPA tariffs.

The Company applied a gain contingency model in accordance with Accounting Standards Codification Topic 450, C ontingencies , to account for potential refunds of previously paid IEEPA tariffs.

Under this model, a gain contingency is not recognized in the condensed consolidated financial statements until the gain is realized or realizable.

Any refunds, when recognized, would be reflected as a reduction of Inventories on the Condensed Consolidated Balance Sheet to the extent the related goods remain on hand, or as a reduction of Cost of sales in the Condensed Consolidated Statements of Operations and Comprehensive Income for amounts related to goods already sold.

Following the February 2026 U.S.

Supreme Court decision invalidating certain tariffs imposed under IEEPA, the Company applied for refunds of IEEPA-tariffs previously paid.

As of May 2, 2026, the Company had not recognized any amounts related to any potential refunds.The approval, timing, and amount of any refunds are uncertain.

During the thirteen weeks ended August 1, 2026, the Company recognized approximately $ 100 million in refunds plus accrued interest of $ 3 million of IEEPA tariffs previously paid.

The refunds received were reflected as a reduction of cost of sales, with the accrued interest reflected in interest income in the Condensed Consolidated Statements of Operations and Comprehensive Income.

Subsequent to August 1, 2026, the Company received approximately $ 18 million in refunds related to IEEPA tariffs, of which approximately $ 4 million had been recognized as a receivable as of the end of the second quarter of 2026.

The remaining $ 14 million received will be reflected as a reduction of cost of sales in the third quarter of 2026, with accrued interest reflected in interest income, in the Condensed Consolidated Statements of Operations and Comprehensive Income.

Abercrombie & Fitch Co.

1 unchanged sentence

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements