Abercrombie & Fitch Company · NYSE:ANF
Abercrombie & Fitch — Q2 2026 Earnings Presentation
32 slides from Abercrombie & Fitch's earnings presentation, Aug 26, 2026
Slide 1: Investor Presentation: Second Quarter 2026
INVESTOR PRESENTATION: SECOND QUARTER 2026
Slide 2: Table of Contents
TABLE OF CONTENTS Safe Harbor and Other Information 3 Company Overview 5 Q2 2026 Results 12 Appendix 20 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 and related statements by management or spokespeople of A&F contain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements, inclu
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 Global Lifestyle Brands
OUR GLOBAL LIFESTYLE BRANDS COMPANY OVERVIEW 6
Slide 7: Abercrombie Brands: Global Store Fleet and Net Sales
GLOBAL STORE FLEET (Q2 2026) POST GRAD 315 OWNED STORES LOVES TO TRAVEL FASHION OBSESSED DIGITALLY-LED 37 FRANCHISE STORES GLOBAL NET SALES NET SALES BY CHANNEL (FY 2025) 14% GROWTH CAGR $2.56B $2.52B $2.20B $1.56B $1.73B ~ 40% $1.29B STORES ~ 60% DIGITAL FY FY FY FY FY FY 2020 2021 2022 2023 2024 2
Slide 8: Hollister: Global Store Fleet and Net Sales
GLOBAL STORE FLEET (Q2 2026) COMING INTO THEIR OWN 531 OWNED STORES COMFORT OBSESSED VALUE VERSATILITY FINANCIALLY RELIANT 24 FRANCHISE STORES GLOBAL NET SALES NET SALES BY CHANNEL (FY 2025) 8% GROWTH CAGR $2.74B $2.15B $2.39B ~ 30% $1.96B $2.08B DIGITAL $1.83B ~ 70% STORES FY FY FY FY FY FY 2020 20
Slide 9: Our Foundation
OUR FOUNDATION Built on a decade of transformation, and strengthening as we grow: • Healthy, customer-driven brands with distinct and large addressable markets; • Successful, regionally relevant brand playbooks, designed to attract, engage, retain, and scale long-term customer relationships; • Signi
Slide 10: Global Growth Priorities
GLOBAL GROWTH PRIORITIES EXPANDING CUSTOMER-DRIVEN PATHS TO CAPTURE SIGNIFICANT ADDRESSABLE MARKETS MARKETS CHANNELS CATEGORIES MULTI-MODEL MULTI-POINT LIFESTYLE-DRIVEN GEOGRAPHIC EXPANSION DISTRIBUTION ASSORTMENT • Scale Owned & Operated markets with • Wholesale, licensing and partnerships • Head-t
Slide 11: Consistent, Profitable Growth
CONSISTENT, PROFITABLE GROWTH GROWING TRACK RECORD OF STRONG RESULTS Net Sales Operating Income Net Income Per Share Repurchases (in $ billions) (in $ millions) Diluted Share (in $ millions) EXPECT EXPECT IN EXPECT EXPECT AT AROUND 5% $741 14.5% TO THE RANGE $5.3 15.0% OF $13.10 TO $450 LEAST $500 G
Slide 12: Q2 Update
GLOBAL SALES GROWTH NET SALES $1.3B +5% Y/Y 2026 Q2 UPDATE "We delivered record second +8%Y/ Y quarter net sales and our EMEA 15th consecutive quarter of +2%Y/Y growth, reflecting our teams’ APAC continued focus on serving customers with compelling AMERICAS +19%Y/Y product, marketing, and +5%Y/Y exp
Slide 13: 2026 Q2 Net Sales Results by Segment
2026 Q2 NET SALES RESULTS BY SEGMENT Americas Net Sales EMEA Net Sales APAC Net Sales (in $ millions) (in $ millions) (in $ millions) $1,384 +5% Y/Y $1,057 $1,021 +2% $974 $900 Y/Y $241 +19% $197 $202 Y/Y $195 $167 $44 $47 $44 $37 $39 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q
Slide 14: 2026 Q2 Net Sales Results by Brand
2026 Q2 NET SALES RESULTS BY BRAND Total Company Net Sales Abercrombie Brands Net Sales Hollister Net Sales (in $ millions) (in $ millions) (in $ millions) $1,670 +5% Y/Y +2% $1,291 $1,267 +8% $863 Y/Y $1,209 $807 $1,114 Y/Y $657 $673 $670 $617 $597 $552 $565 $549 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2
Slide 15: 2026 Q2 Operating Income/Net Income per Diluted Share
2026 Q2 OPERATING INCOME/ NET INCOME PER DILUTED SHARE Operating Income Net Income per Diluted Share (in $ millions) $4.17 $253 $236 $3.68 $207 $2.91 $155 $2.36 $89 $1.47 OPERATING 17.1% 12.0% 14.1% 8.0% 19.9% MARGIN Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 ADJUSTED Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2
Slide 16: 2026 Q2 Approximate U.S. Tariff Impact
2026 Q2 APPROXIMATE U.S. TARIFF IMPACT QUARTERLY HISTORY FY 2025 FY 2026 TOTAL TARIFF EXPENSE (BENEFIT) (APPROXIMATE, $ MILLIONS) Q1 Q2 Q3 Q4 FY Q1 Q2 TARIFF EXPENSE (BENEFIT) (1) $— $5 $25 $60 $90 $20 $15 IEEPA TARIFF REFUND (2) $— $— $— $— $— $— $(100) TOTAL TARIFF IMPACT ($ MILLIONS) (3) $— $5 $2
Slide 17: 2026 Q2 Financial Position
2026 Q2 FINANCIAL POSITION Cash and Equivalents CASH & EQUIVALENTS • $628M as compared to $573M last year $760M $606M $594M $628M $573M MARKETABLE SECURITIES • Current investments of $10M, compared to $25M at January 31st, 2026 INVENTORIES • $592M, around flat to last year Q2 2025 Q3 2025 Q4 2025 Q1
Slide 18: Share Repurchases
SHARE REPURCHASES Since the start of 2021, the Company has repurchased approximately 25 million shares for approximately $1.5 billion. The Company has $568 million remaining under its current share repurchase authorization, announced in March 2025. SHARE REPURCHASES (1) NUMBER OF AVERAGE ENDING SHAR
Slide 19: 2026 Fiscal Outlook
PREVIOUS FULL YEAR OUTLOOK (1) 2026 FISCAL OUTLOOK The following outlook replaces all previous full year guidance. For fiscal 2026, the company now expects: FY 2026 CURRENT FULL YEAR OUTLOOK PREVIOUS FULL YEAR OUTLOOK (1) NET SALES GROWTH AROUND 5% GROWTH IN THE RANGE OF 3% TO 5% IEEPA TARIFF REFUND
Slide 20: Appendix
APPENDIX 20
Slide 21: Net Sales and Comparable Sales Growth History by Region
2026 Q2 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 2026 3% 5% (10)% 2% 24% 19% 2025 7% 8% 7% 5% 7% 12% (1)% 7% 8% 6% 5% 12% (6)% 9% 5% 2024 23% 23% 14% 11% 17% 19% 16% 15% 2% 12% 10% 3% 32% (4)% 9% A
Slide 22: Net Sales and Comparable Sales Growth History by Brand
2026 Q2 NET SALES GROWTH AND COMPARABLE SALES GROWTH HISTORY BY BRAND Total Abercrombie Brands Hollister NET SALES GROWTH Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 2026 2% 5% 3% 8% —% 2% 2025 8% 7% 7% 5% 6% (4)% (5)% (2)% 4% (1)% 22% 19% 16% 6% 15% 2024 22% 21% 14% 9% 16% 31% 26% 15% 2% 16% 12% 1
Slide 23: 2026 Q2 Store Count - Brand
2026 Q2 STORE COUNT - BRAND BRAND FY 2024 FY 2025 FY 2026 OWNED AND OPERATED Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 ABERCROMBIE BRANDS 246 255 267 278 281 292 304 306 309 315 HOLLISTER 507 502 506 511 512 515 523 523 525 531 TOTAL OWNED AND OPERATED 753 757 773 789 793 807 827 829 834 846 STORES FRANCHISE Q1
Slide 24: 2026 Q2 Store Count - Region
2026 Q2 STORE COUNT - REGION REGION FY 2024 FY 2025 FY 2026 OWNED AND OPERATED Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 AMERICAS 572 577 589 600 605 614 630 635 639 651 EMEA 134 133 133 133 133 135 139 137 139 141 APAC 47 47 51 56 55 58 58 57 56 54 TOTAL OWNED AND OPERATED 753 757 773 789 793 807 827 829 834 8
Slide 25: 2026 Q2 Income Statement
2026 Q2 INCOME STATEMENT Thirteen Weeks Ended GAAP % OF % OF (in thousands) Q2 2026 NET SALES Q2 2025 NET SALES NET SALES $1,266,689 100.0% $1,208,560 100.0% COST OF SALES (1) 366,109 28.9% 451,590 37.4% OPERATING EXPENSE 648,826 51.2% 550,681 45.6% OTHER OPERATING INCOME, NET (946) (0.1)% (369) 0.0
Slide 26: 2026 YTD Income Statement
2026 YTD INCOME STATEMENT Twenty-Six Weeks Ended GAAP % OF % OF (in thousands) YTD 2026 NET SALES YTD 2025 NET SALES NET SALES $2,380,510 100.0% $2,305,871 100.0% COST OF SALES (1) 779,947 32.8% 868,723 37.7% OPERATING EXPENSE 1,262,775 53.0% 1,125,543 48.8% OTHER OPERATING INCOME, NET (3,709) (0.2)
Slide 27: Balance Sheet
BALANCE SHEET (in thousands) AUGUST 1, 2026 JANUARY 31, 2026 AUGUST 2, 2025 CASH AND EQUIVALENTS $627,716 $759,540 $572,730 MARKETABLE SECURITIES 10,283 25,036 30,795 RECEIVABLES 190,347 146,757 174,000 INVENTORIES 591,662 601,218 592,966 OTHER CURRENT ASSETS 125,670 117,913 118,624 TOTAL CURRENT AS
Slide 28: Statement of Cash Flows
STATEMENT OF CASH FLOWS YEAR TO DATE PERIOD ENDED (in thousands) AUGUST 1, 2026 AUGUST 2, 2025 NET CASH PROVIDED BY OPERATING ACTIVITIES $313,401 $112,893 PURCHASES OF MARKETABLE SECURITIES (19,600) — PROCEEDS FROM MATURITIES OF MARKETABLE SECURITIES 34,600 85,000 PURCHASES OF PROPERTY AND EQUIPMENT
Slide 29: Reconciliation of GAAP to Non-GAAP Results
RECONCILIATION OF GAAP TO NON-GAAP RESULTS STATEMENT OF OPERATIONS Q2 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 206,658 17.1% 38,574 168,084 13.9% INCOME BEFORE INCOME TAXES 209,132 17.3%
Slide 30: 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 308,191 13.4% 38,574 269,617 11.7% INCOME BEFORE INCOME TAXES 317,448 13.8%
Slide 31: Reconciliation of GAAP to Non-GAAP Results
RECONCILIATION OF GAAP TO NON-GAAP RESULTS STATEMENT OF OPERATIONS NET SALES Q2 2026 Q2 2025 Δ% GAAP (1) $1,266,689 $1,208,560 5% IMPACT FROM CHANGES IN FOREIGN CURRENCY EXCHANGE RATES (2) — (223) —% NON-GAAP CONSTANT CURRENCY BASIS $1,266,689 $1,208,337 5% OPERATING INCOME Q2 2026 Q2 2025 Δ BPS (4)
Slide 32: Abercrombie & Fitch Co.
Abercrombie & Fitch Co.
Abercrombie & Fitch Company — Q2 2026 Earnings Presentation on 6ix