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SEGMENT REPORTING | 3 Months Ended
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May 03, 2025
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING The Company’s reportable segments are based on the financial information the chief operating decision maker (“CODM”) uses to allocate resources and assess performance of its business. The Company manages its business on a geographic basis, consisting of three reportable segments: Americas; EMEA; and 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. The Americas reportable segment includes the results of operations in North America and South America. The EMEA reportable segment includes the results of operations in Europe, the Middle East and Africa. The APAC reportable segment includes the results of operations in the Asia-Pacific region, including Asia and Oceania. Intersegment sales and transfers are recorded at cost and are treated as a transfer of inventory. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. The group comprised of the Company’s (i) Chief Executive Officer, (ii) Chief Operating Officer, and (iii) Chief Financial Officer functions as the Company’s CODM. The Company’s CODM manages business operations and evaluates the performance of each segment based on the net sales and operating income (loss) of the segment. The CODM considers actual performance relative to expectations and growth potential to determine the appropriate allocation of resources to each segment. Net sales by segment are presented by attributing revenues to a physical store location or geographical region that fulfills the order. Operating income (loss) for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributed to the segment. 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 as of May 3, 2025, February 1, 2025 and May 4, 2024, and for the thirteen weeks ended May 3, 2025 and May 4, 2024:
| Thirteen Weeks Ended May 3, 2025
(in thousands) | Americas (1) |  | EMEA |  | APAC |  | Total
Net sales | $ | 874,804 |  |  | $ | 185,036 |  |  | $ | 37,471 |  |  | $ | 1,097,311 |
Cost of sales, exclusive of depreciation and amortization | 329,923 |  |  | 73,597 |  |  | 13,613 |  |  | 417,133 |
Store occupancy (2) | 84,920 |  |  | 28,974 |  |  | 10,525 |  |  | 124,419 |
Fulfillment (2) | 85,046 |  |  | 23,486 |  |  | 4,933 |  |  | 113,465 |
Other expense (3) | 147,955 |  |  | 42,945 |  |  | 12,810 |  |  | 203,710 |
Segment income (loss) | $ | 226,960 |  |  | $ | 16,034 |  |  | $ | (4,410) |  |  | $ | 238,584 |
Operating loss not attributed to segments: |  |  |  |  |  |  |
Corporate and other unallocated expenses (4) |  |  |  |  |  |  | (137,051) |
Operating income |  |  |  |  |  |  | $ | 101,533 |
Interest income, net |  |  |  |  |  |  | (6,783) |
Income before income taxes |  |  |  |  |  |  | $ | 108,316 |
Depreciation and amortization | $ | 22,955 |  |  | $ | 5,595 |  |  | $ | 2,038 |  |  | $ | 30,588 |
Depreciation and amortization not attributed to segments |  |  |  |  |  |  | 7,988 |
Total depreciation and amortization |  |  |  |  |  |  | $ | 38,576 |
Capital expenditures | $ | 30,038 |  |  | $ | 8,029 |  |  | $ | 4,022 |  |  | $ | 42,089 |
Capital expenditures not attributed to segments |  |  |  |  |  |  | 8,675 |
Total capital expenditures |  |  |  |  |  |  | $ | 50,764 |
| Thirteen Weeks Ended May 4, 2024
(in thousands) | Americas (1) |  | EMEA |  | APAC |  | Total
Net sales | $ | 820,121 |  |  | $ | 164,778 |  |  | $ | 35,831 |  |  | $ | 1,020,730 |
Cost of sales, exclusive of depreciation and amortization | 273,499 |  |  | 57,878 |  |  | 11,896 |  |  | 343,273 |
Store occupancy (2) | 78,881 |  |  | 26,632 |  |  | 7,523 |  |  | 113,036 |
Fulfillment (2) | 80,602 |  |  | 17,896 |  |  | 3,879 |  |  | 102,377 |
Other expense (3) | 134,792 |  |  | 37,871 |  |  | 12,855 |  |  | 185,518 |
Segment income (loss) | $ | 252,347 |  |  | $ | 24,501 |  |  | $ | (322) |  |  | $ | 276,526 |
Operating loss not attributed to segments: |  |  |  |  |  |  |
Corporate and other unallocated expenses (4) |  |  |  |  |  |  | (146,677) |
Operating income |  |  |  |  |  |  | $ | 129,849 |
Interest income, net |  |  |  |  |  |  | (5,023) |
Income before income taxes |  |  |  |  |  |  | $ | 134,872 |
Depreciation and amortization | $ | 19,896 |  |  | $ | 5,771 |  |  | $ | 1,464 |  |  | $ | 27,131 |
Depreciation and amortization not attributed to segments |  |  |  |  |  |  | 10,558 |
Total depreciation and amortization |  |  |  |  |  |  | $ | 37,689 |
Capital expenditures | $ | 20,904 |  |  | $ | 3,213 |  |  | $ | 1,274 |  |  | $ | 25,391 |
Capital expenditures not attributed to segments |  |  |  |  |  |  | 13,495 |
Total capital expenditures |  |  |  |  |  |  | $ | 38,886 |
(1)Includes the U.S., Canada, and Latin America. Net sales in the U.S. were $0.8 billion, and $0.8 billion for the thirteen weeks ended May 3, 2025 and May 4, 2024, 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.
| Assets
(in thousands) | May 3, 2025 |  | February 1, 2025 |  | May 4, 2024
Inventories |  |  |  |  |
Americas | $ | 432,576 |  |  | $ | 463,148 |  |  | $ | 361,061 |
EMEA | 86,582 |  |  | 88,728 |  |  | 70,829 |
APAC | 22,901 |  |  | 23,129 |  |  | 17,377 |
Total inventories | $ | 542,059 |  |  | $ | 575,005 |  |  | $ | 449,267 |
Assets not attributed to segments | 2,554,117 |  |  | 2,724,882 |  |  | 2,520,818 |
Total assets | $ | 3,096,176 |  |  | $ | 3,299,887 |  |  | $ | 2,970,085 |
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 3, 2025, February 1, 2025 and May 4, 2024 were as follows:
(in thousands) | May 3, 2025 |  | February 1, 2025 |  | May 4, 2024
Americas (1) (2) | $ | 1,044,664 |  |  | $ | 991,673 |  |  | $ | 948,526 |
EMEA (3) | 324,531 |  |  | 292,285 |  |  | 261,853 |
APAC | 124,238 |  |  | 114,388 |  |  | 49,891 |
Total | $ | 1,493,433 |  |  | $ | 1,398,346 |  |  | $ | 1,260,270 |
(1)Includes the U.S., Canada, and Latin America. Long-lived assets and intellectual property located in the U.S. were $1.0 billion, $965 million, and $922 million as of May 3, 2025 , February 1, 2025 and May 4, 2024, respectively. (2)Includes intellectual property of $2.9 million, $2.9 million, and $2.9 million as of May 3, 2025, February 1, 2025 and May 4, 2024, respectively. (3)Includes intellectual property of $16.4 million, $16.6 million, and $17.2 million as of May 3, 2025, February 1, 2025 and May 4, 2024, respectively. Brand Information The following table provides additional disaggregated revenue information, which is categorized by brand, for the thirteen weeks ended May 3, 2025 and May 4, 2024:
| Thirteen Weeks Ended |  |
(in thousands) | May 3, 2025 |  | May 4, 2024 |  |  |  |
Abercrombie | $ | 547,947 |  |  | $ | 571,513 |  |  |  |  |
Hollister | 549,364 |  |  | 449,217 |  |  |  |  |
Total | $ | 1,097,311 |  |  | $ | 1,020,730 |  |  |  |  |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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