Slide 1: Investor Presentation: Third Quarter 2025
INVESTOR PRESENTATION: THIRD QUARTER 2025
Slide 2: Table of Contents
TABLE OF CONTENTS Safe Harbor and Other Information 3 Company Overview 5 Q3 2025 Results 15 Appendix 22 2
Slide 3: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This presentation contains forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements, including, without limitation, statements regarding our fourth q
Slide 4: Reporting and Use of GAAP and Non-GAAP Measures
REPORTING AND USE OF GAAP AND NON-GAAP MEASURES The following presentation includes certain adjusted non-GAAP financial measures. Additional details about non-GAAP financial measures and a reconciliation of GAAP financial measures to non-GAAP financial measures is included in the Appendix to this pr
Slide 5: Global, digitally-led, omnichannel apparel and accessories retailer
Abercrombie & Fitch Co. is a global, digitally-led, omnichannel apparel and accessories retailer catering to kids through millennials with assortments curated for their specific lifestyle needs Our corporate purpose of 'We are here for you on the journey to being and becoming who you are' fuels our
Slide 6: Our Foundation
OUR FOUNDATION Built on a decade of transformation, and strengthening as we grow: • Two healthy, customer-driven brand families with distinct and large addressable markets; • Successful, regionally relevant brand playbooks, designed to attract, engage, retain, and scale long-term customer relationsh
Slide 7: Sustainable, Profitable Growth
SUSTAINABLE, PROFITABLE GROWTH WELL-BUILT FOUNDATION YIELDS STRONG RESULTS Net Sales Operating Income (Loss) (in $ billions) (in $ millions) EXPECT 13.0% TO EXPECT 13.5% $4.9 6% TO 7% $741 MARGIN (1) GROWTH (1) COVID CLOSURE $4.3 IMPACT $3.6 $3.6 $3.7 $3.7 $485 $3.1 $343 COVID $127 CLOSURE $93 $70 I
Slide 8: Company Overview
COMPANY OVERVIEW 8
Slide 9: Abercrombie Brands
PRODUCT VOICE IN HER OWN KEMO SABE X A&F LEAGUE CAMPAIGN COLLAB CUSTOMER EXPERIENCE GLOBAL NET SALES NET SALES BY CHANNEL TARGETING +10% $2.56B (FY 2024) GROWTH CAGR $2.20B MILLENNIALS $1.73B $1.46B $1.56B $1.29B ~ 40% ~ POST GRAD STORES 60% DIGITAL LOVES TO TRAVEL FASHION OBSESSED 304 FY FY FY FY F
Slide 10: Hollister Brands
PRODUCT VOICE Y2K CAPSULE CROCS X HOLLISTER COLLECTION COLLAB CUSTOMER EXPERIENCE GLOBAL NET SALES NET SALES BY BACK TO GROWTH CHANNEL TARGETING +15% (FY 2024) Y/Y GEN Z TEENS $2.39B $2.16B $2.15B $1.96B $2.08B $1.83B ~ 30% COMING INTO THEIR OWN ~ 70% DIGITAL COMFORT OBSESSED STORES VALUE VERSATILIT
Slide 11: Always Forward Plan: Key Objectives
ALWAYS FORWARD PLAN KEY OBJECTIVES: 1 GLOBAL BRAND GROWTH EXECUTE 2 ENTERPRISE-WIDE DIGITAL ACCELERATE REVOLUTION 3 FINANCIAL DISCIPLINE OPERATE WITH COMPANY OVERVIEW 11
Slide 12: Global Brand Growth
1 GLOBAL BRAND GROWTH PRODUCT VOICE EXPERIENCE COLLECTIONS & DIGITAL CUSTOMER GEOGRAPHIC EXTENSIONS ACQUISITION EXPANSION • Graphics Licensing • Influencer Channel • Localized Physical/Digital • Activewear • Social Commerce Experiences • A&F Best Dressed Guest (Instagram, TikTok, WeChat) • Fuel Regi
Slide 13: Enterprise-Wide Digital Revolution
2 ENTERPRISE-WIDE DIGITAL REVOLUTION WOW THEM – investments in people, processes, and systems, including AI, to improve the end-to-end customer experience • Modernize Foundation (Retail ERP, Data Infrastructure) • Consistent Omnichannel experience (Digital and In-Store) • Powerful, Modern Loyalty Pr
Slide 14: Financial Discipline
3 FINANCIAL DISCIPLINE AGILE COST STRUCTURE; SIGNIFICANT OPERATING MARGIN IMPROVEMENT WHILE INVESTING 2022 2023 2024 Net Sales growth across both NET SALES $3.7B $4.3B $4.9B units and average unit retail (100%) (AUR) on lower promotions COST OF SALES (1) 43.1% 37.1% 35.8% Cost of Sales improvement f
Slide 15: Q3 Update
GLOBAL SALES GROWTH NET SALES $1.3B +7% Y/Y 2025 Q3 UPDATE "We achieved three years of consecutive quarterly sales +16%Y/Y EMEA growth, delivering record third quarter net sales. As we enter +7%Y/Y the holiday season, our global APAC teams are energized and AMERICAS (6)%Y/Y ready to deliver exceptio
Slide 16: 2025 Q3 Net Sales Results by Segment
2025 Q3 NET SALES RESULTS BY SEGMENT Americas Net Sales EMEA Net Sales APAC Net Sales (in $ millions) (in $ millions) (in $ millions) +7% $1,320 Y/Y $1,057 +7% $986 $974 Y/Y $875 $224 (6)% $197 Y/Y $182 $185 $195 $41 $41 $37 $37 $39 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2
Slide 17: 2025 Q3 Net Sales Results by Brand
2025 Q3 NET SALES RESULTS BY BRAND Total Company Net Sales Abercrombie Brands Net Sales Hollister Brands Net Sales (in $ millions) (in $ millions) (in $ millions) +7% $1,585 Y/Y +16% $1,291 (2)% Y/Y $1,209 $1,209 Y/Y $812 $1,097 $773 $657 $673 $630 $617 $579 $548 $552 $549 Q3 2024 Q4 2024 Q1 2025 Q2
Slide 18: 2025 Q3 Operating Income/Net Income per Diluted Share
2025 Q3 OPERATING INCOME/ NET INCOME PER DILUTED SHARE Operating Income Net Income per Diluted Share (in $ millions) HIGH END OF ABOVE $256 OUTLOOK OF OUTLOOK 11% - 12% $2.05 TO $3.57 $2.15 $207 $179 $2.91 $155 $2.50 $2.36 $102 $1.59 OPERATING 14.8% 16.2% 9.3% 17.1% 12.0% MARGIN Q3 2024 Q4 2024 Q1 2
Slide 19: Fiscal Outlook
PREVIOUS FULL YEAR OUTLOOK (1) 2025 FISCAL OUTLOOK The following outlook replaces all previous full year guidance. For fiscal 2025, the company now expects: FY 2025 CURRENT FULL YEAR OUTLOOK (1) (2) PREVIOUS FULL YEAR OUTLOOK (3) NET SALES GROWTH IN THE RANGE OF 6% TO 7% GROWTH IN THE RANGE OF 5% TO
Slide 20: 2025 Q3 Financial Position
2025 Q3 FINANCIAL POSITION CASH & EQUIVALENTS • $606M as compared to $683M last year Cash and Equivalents MARKETABLE SECURITIES • Current investments of $25M, compared to $116M at February 1, 2025, primarily due to $105M of maturities $773M INVENTORIES $683M • $730M, up 5% from last year • Units up
Slide 21: Share Repurchases
SHARE REPURCHASES Since the start of 2022, the Company has repurchased approximately 11 million shares for approximately $706 million. The Company has $950 million remaining under its current share repurchase authorization, announced in March 2025. SHARE REPURCHASES (1) NUMBER OF AVERAGE ENDING SHAR
Slide 22: Appendix
APPENDIX 22
Slide 23: Net Sales and Comparable Sales Growth History by Region
2025 Q3 NET SALES GROWTH AND COMPARABLE SALES GROWTH HISTORY BY REGION Americas EMEA APAC NET SALES GROWTH Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 2025 7% 8% 7% 12% (1)% 7% 5% 12% (6)% 2024 23% 23% 14% 11% 17% 19% 16% 15% 2% 12% 10% 3% 32% (4)% 9% 2023 (3) 19% 22% 23% 18% 4% 14% 13% 4% 18% 13%
Slide 24: Net Sales and Comparable Sales Growth History by Brand
2025 Q3 NET SALES GROWTH AND COMPARABLE SALES GROWTH HISTORY BY BRAND Total Abercrombie Brands Hollister Brands NET SALES GROWTH Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 2025 8% 7% 7% (4)% (5)% (2)% 22% 19% 16% 2024 22% 21% 14% 9% 16% 31% 26% 15% 2% 16% 12% 17% 14% 16% 15% 2023 3% 16% 20% 21% 16
Slide 25: 2025 Q3 Store Count - Owned and Operated
2025 Q3 STORE COUNT - OWNED AND OPERATED (1) OWNED AND OPERATED FY 2023 FY 2024 FY 2025 BRAND Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 ABERCROMBIE BRANDS 233 233 239 247 246 255 267 278 281 292 304 HOLLISTER BRANDS 525 526 526 518 507 502 506 511 512 515 523 TOTAL STORES 758 759 765 765 753 757 773 789 793
Slide 26: 2025 Q3 Store Count - Franchise
2025 Q3 STORE COUNT - FRANCHISE (1) FRANCHISE FY 2023 FY 2024 FY 2025 BRAND Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 ABERCROMBIE BRANDS 17 17 19 22 22 22 27 29 31 32 34 HOLLISTER BRANDS 14 16 18 18 18 18 19 20 21 22 23 TOTAL STORES 31 33 37 40 40 40 46 49 52 54 57 FY 2023 FY 2024 FY 2025 REGION Q1 Q2 Q3 Q4
Slide 27: 2025 Q3 Income Statement
2025 Q3 INCOME STATEMENT Thirteen Weeks Ended GAAP % OF % OF (in thousands) Q3 2025 NET SALES Q3 2024 NET SALES NET SALES $1,290,619 100.0% $1,208,966 100.0% COST OF SALES (1) 483,670 37.5% 422,034 34.9% OPERATING EXPENSE 652,950 50.6% 609,236 50.4% OTHER OPERATING INCOME, NET (1,022) (0.1)% (1,586)
Slide 28: 2025 YTD Income Statement
2025 YTD INCOME STATEMENT Thirty-Nine Weeks Ended GAAP % OF % OF (in thousands) YTD 2025 NET SALES YTD 2024 NET SALES NET SALES $3,596,490 100.0% $3,363,670 100.0% COST OF SALES (1) 1,352,393 37.6% 1,163,019 34.6% OPERATING EXPENSE 1,778,493 49.5% 1,719,506 51.1% OTHER OPERATING INCOME, NET 2,392 0.
Slide 29: Balance Sheet
BALANCE SHEET (in thousands) NOVEMBER 1, 2025 FEBRUARY 1, 2025 NOVEMBER 2, 2024 CASH AND EQUIVALENTS $605,783 $772,727 $683,089 MARKETABLE SECURITIES 25,255 116,221 55,790 RECEIVABLES 131,741 105,324 111,583 INVENTORIES 730,453 575,005 692,596 OTHER CURRENT ASSETS 116,303 104,154 112,709 TOTAL CURRE
Slide 30: Statement of Cash Flows
STATEMENT OF CASH FLOWS YEAR TO DATE PERIOD ENDED NOVEMBER 1, NOVEMBER 2, (in thousands) 2025 2024 NET CASH PROVIDED BY OPERATING ACTIVITIES $313,000 $402,756 PURCHASES OF MARKETABLE SECURITIES (15,000) (55,000) PROCEEDS FROM MATURITIES OF MARKETABLE SECURITIES 105,000 — PURCHASES OF PROPERTY AND EQ
Slide 31: Reconciliation of GAAP to Non-GAAP Results
RECONCILIATION OF GAAP TO NON-GAAP RESULTS STATEMENT OF OPERATIONS YTD 2025 % OF NET EXCLUDED ADJUSTED % OF NET (in thousands) GAAP (1) SALES ITEM (2) NON-GAAP SALES LITIGATION SETTLEMENT $(38,574) $(38,574) OPERATING INCOME 463,212 12.9% 38,574 424,638 11.8% INCOME BEFORE INCOME TAXES 478,410 13.3%
Slide 32: Reconciliation of GAAP to Non-GAAP Results
RECONCILIATION OF GAAP TO NON-GAAP RESULTS STATEMENT OF OPERATIONS NET SALES Q3 2025 Q3 2024 Δ% GAAP (1) $1,290,619 $1,208,966 7% IMPACT FROM CHANGES IN FOREIGN CURRENCY EXCHANGE RATES (2) — 5,834 —% NON-GAAP CONSTANT CURRENCY BASIS $1,290,619 $1,214,800 6% OPERATING INCOME Q3 2025 Q3 2024 Δ BPS (3)
Slide 33: Abercrombie & Fitch Co.
Abercrombie & Fitch Co.