Abercrombie & Fitch Co. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Abercrombie & Fitch Co. files its annual 10-K report for the fiscal year ending February 3, 2024.</b>

AI Summary

ABERCROMBIE & FITCH CO /DE/ (ANF) filed a Annual Report (10-K) with the SEC on April 1, 2024. Filed 10-K for the fiscal year ended February 3, 2024. Company is Abercrombie & Fitch Co. /DE/ with Central Index Key 0001018840. Incorporated in Delaware, with principal business address in New Albany, OH. Fiscal year end is February 3. SEC file number is 001-12107.

Why It Matters

For investors and stakeholders tracking ABERCROMBIE & FITCH CO /DE/, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the past fiscal year. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: low — ABERCROMBIE & FITCH CO /DE/ shows low risk based on this filing. The risk level is assessed as low as the filing is a standard annual report (10-K) and does not contain immediate, significant negative disclosures.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Abercrombie & Fitch's performance and outlook.

Key Numbers

• 2024-02-03 — Fiscal Year End (The end date of the reporting period.)
• 2024-04-01 — Filing Date (The date the 10-K was filed with the SEC.)
• 2023-01-28 — Prior Fiscal Year End (The end date of the previous fiscal year.)
• 2022-01-29 — Fiscal Year End Prior to Prior (The end date of the fiscal year before the previous one.)

Key Players & Entities

• ABERCROMBIE & FITCH CO /DE/ (company) — Filer name
• 0001018840 (company) — Central Index Key
• 20240203 (date) — Fiscal year end
• 20240401 (date) — Filing date
• DE (jurisdiction) — State of incorporation
• OH (state) — State of business address
• 6301 FITCH PATH (address) — Business address
• 001-12107 (filing_id) — SEC file number

FAQ

Industry Context

Abercrombie & Fitch operates within the retail sector, specifically focusing on family clothing stores.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the full 10-K document for detailed financial statements and management discussion.
2. Identify any new or updated risk factors disclosed in the filing.
3. Compare key financial metrics with previous years to assess trends.

Key Dates

• 2024-02-03: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-01: Filing Date — The date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted from the 10-K header, providing basic company and filing information.

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 Par Value ANF New York Stock Exchange

Filing Documents

• anf-20240203.htm (10-K) — 2303KB
• exhibit41q42023.htm (EX-4.1) — 7KB
• exhibit424q2023.htm (EX-4.2) — 32KB
• exhibit10434q2023.htm (EX-10.43) — 100KB
• exhibit211q42023.htm (EX-21.1) — 38KB
• exhibit231q42023.htm (EX-23.1) — 3KB
• exhibit241q42023.htm (EX-24.1) — 46KB
• exhibit311q42023.htm (EX-31.1) — 9KB
• exhibit312q42023.htm (EX-31.2) — 9KB
• exhibit321q42023.htm (EX-32.1) — 8KB
• exhibit971q42023.htm (EX-97.1) — 35KB
• anf-20240203_g1.jpg (GRAPHIC) — 67KB
• anf-20240203_g2.jpg (GRAPHIC) — 30KB
• anf-20240203_g3.jpg (GRAPHIC) — 5KB
• anf-20240203_g4.jpg (GRAPHIC) — 52KB
• anf-20240203_g5.jpg (GRAPHIC) — 14529KB
• anf-20240203_g6.jpg (GRAPHIC) — 106KB
• 0001018840-24-000019.txt (&nbsp;) — 51584KB
• anf-20240203.xsd (EX-101.SCH) — 80KB
• anf-20240203_cal.xml (EX-101.CAL) — 86KB
• anf-20240203_def.xml (EX-101.DEF) — 459KB
• anf-20240203_lab.xml (EX-101.LAB) — 1128KB
• anf-20240203_pre.xml (EX-101.PRE) — 799KB
• anf-20240203_htm.xml (XML) — 1926KB

Risk Factors

Item 1A. Risk Factors 13

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 26 Item 1C. C ybersecurity 26

Properties

Item 2. Properties 27

Legal Proceedings

Item 3. Legal Proceedings 27

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 27 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28

[Reserved]

Item 6. [Reserved] 29

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 44

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 45 Consolidated Statements of Operations and Comprehensive Income (Loss) 45 Consolidated Balance Sheets 46 Consolidated Statements of Stockholders' Equity 47 Consolidated Statements of Cash Flows 48 Index for Notes to Consolidated Financial Statements 49

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 50

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 80

Controls and Procedures

Item 9A. Controls and Procedures 80

Other Information

Item 9B. Other Information 81

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 81 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 82

Executive Compensation

Item 11. Executive Compensation 83

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 83

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 83

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 83 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 84

Form 10-K Summary

Item 16. Form 10-K Summary 84 Index to Exhibits 85

Signatures

Signatures 88 Abercrombie & Fitch Co. 2 2023 Form 10-K Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this Annual Report on Form 10-K may constitute forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change based on various important factors, many of which may be beyond our control. Words such as "estimate," "project," "plan," "believe," "expect," "anticipate," "intend," "should," "are confident," "will," "could", "outlook," or the negative versions of those words or other comparable words and similar expressions may identify forward-looking statements. Future economic and industry trends that could potentially impact revenue and profitability are difficult to predict. Therefore, there can be no assurance that the forward-looking statements included in this Annual Report on Form 10-K will prove to be accurate. Factors that could cause results to differ from those expressed in the forward-looking statements include, but are not limited to, the risks described or referenced in " ITEM 1A. RISK FACTORS ," of this Annual Report on Form 10-K and otherwise in our reports and filings with the SEC, as well as the following: risks related to changes in global economic and financial conditions, including inflation, and the resulting impact on consumer spending generally and on our operating results, financial condition, and expense management, and our ability to adequately mitigate the impact; risks related to geopolitical conflict, armed conflict, the conflicts between Russia and Ukraine or Israel and Hamas and the expansion of conflict in the surrounding areas, including the impact of such conflicts on international trade, supplier delivery or increased freight costs, acts of terrorism, mass casualty events, social unrest, civil disturbance or disobedience; risks related to natural disasters and other unfor

Business

Item 1. Business GENERAL Abercrombie & Fitch Co. ("A&F"), a company incorporated in Delaware in 1996, through its subsidiaries (collectively, A&F and its subsidiaries are referred to as the "Company"), is a global, digitally-led omnichannel retailer. The Company offers a broad assortment of apparel, personal care products and accessories for men, women and kids, which are sold primarily through its Company-owned stores and digital channels, as well as through various third-party arrangements. During the second quarter of Fiscal 2023, to leverage the knowledge and experience of our regional teams to drive brand growth, the Company reorganized its structure and now primarily manages its business on a geographic basis, consisting of three reportable segments: Americas; Europe, the Middle East and Africa (EMEA); and Asia-Pacific (APAC). 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 (loss). There was no impact on consolidated net sales, operating income (loss) or net income (loss) as a result of these changes. All prior periods presented are recast to conform to the new segment presentation. The Company's brands include Abercrombie brands, which includes Abercrombie & Fitch and abercrombie kids, and Hollister brands, which includes Hollister and Gilly Hicks. 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's fiscal year ends on the Saturday closest to January 31. This typically results in a fifty-two-week year, but occasionally gives rise to an additional week, resulting in a fifty-three-week year, as is the case in Fiscal 2023. Fiscal years are designated in the Consolidated Financial Statements and Notes thereto, as well as the rem

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View this 10-K filing on SEC EDGAR