10-Q · June 5, 2026
Abercrombie & Fitch Co. reported Q1 2026 results with revenue of $1.11 billion, slightly below the expected $1.12 billion. However, EPS of $1.47 exceeded analysts' estimates of $1.29, reflecting a positive earnings…
Earnings analysis · 10-Q
ANF earnings analysis
Filed September 4, 2026 · Our reading of the company's report
The latest report
The supplied 10-Q excerpt does not contain the income statement, balance sheet, cash-flow statement, segment results, or MD&A, so revenue, margins, EPS, free cash flow, working-capital trends, and segment performance…
Read full summary
The supplied 10-Q excerpt does not contain the income statement, balance sheet, cash-flow statement, segment results, or MD&A, so revenue, margins, EPS, free cash flow, working-capital trends, and segment performance cannot be verified from the filing text provided. The excerpt shows effective disclosure controls, no material change in internal control, elimination of the company’s senior-note interest-rate exposure, and continued substantial repurchases. Key quantified risks include a $14.7 million hypothetical derivative fair-value decline under a 10% dollar devaluation and legal exposures that management cannot currently estimate.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Substantial Share Repurchases
The company repurchased 2,015,438 shares under its publicly announced program during the thirteen weeks ended August 1, 2026, with $567,988,888 remaining under the authorization at quarter-end.
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Senior Notes Interest Risk Eliminated
The company redeemed all outstanding 8.75% Senior Secured Notes on July 15, 2024, eliminating the associated interest-rate risk; future exposure may arise from borrowings under the ABL Facility.
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Controls Remained Effective
Management concluded that disclosure controls and procedures were effective at a reasonable level of assurance as of August 1, 2026.
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Currency Exposure Partially Hedged
The company’s foreign-exchange hedging program is designed to partially offset currency exposure, and the filing states that a hypothetical 10% U.S. dollar devaluation would decrease derivative fair values by approximately $14.7 million, largely offset by the hedged items.
What to watch
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Foreign-Exchange Volatility
A hypothetical 10% devaluation of the U.S. dollar against currencies covered by the company’s forward contracts would decrease derivative contract fair values by approximately $14.7 million. Although the filing expects the impact to be largely offset by hedged items, greater international operations increase currency exposure.
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Unquantified Legal Exposure
The company states that it cannot estimate a range of reasonably possible losses in excess of accrued legal charges for certain proceedings and has not accrued amounts for claims where the outcome or potential liability cannot be reasonably estimated. Environmental proceedings are subject to a disclosure threshold of $1 million.
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Capital Allocation and Liquidity
The company repurchased 2,017,074 shares at an average price of $87.87 during the quarter, while $567,988,888 remained available under the authorization. Continued buybacks could reduce cash available for operations or investment if business conditions weaken.
Management's outlook
The supplied 10-Q excerpt does not include a quantitative outlook or updated guidance. Numeric outlook was provided in the previously referenced August 26 earnings release, not in the excerpt supplied here.
Earlier filings 4
10-K · March 26, 2026
Abercrombie & Fitch Co. reported a mixed fiscal performance: consolidated revenue grew to approximately $5.27 billion (sum of four fiscal quarters) while gross margin and free cash flow weakened. The company emphasizes…
10-Q · December 6, 2024
Abercrombie & Fitch reported a strong quarter: net sales of $1,208,966 (thousands) were up versus the prior-year quarter, gross margin improved to ~65.1% and diluted EPS rose to $2.50. Operating income increased to…
10-Q · June 7, 2024
Abercrombie & Fitch reported strong 1Q results: net sales of $1,020,730,000 (thirteen weeks ended May 4, 2024) increased $184,736,000 or ~22.1% versus $835,994,000 a year ago, with gross profit up to $677,457,000 and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.