ABERCROMBIE & FITCH CO /DE/ has recently released its 10-Q report. The company operates as an omnichannel retailer across the Americas, Europe, the Middle East, Africa and the Asia-Pacific region. It sells apparel, personal care products and accessories for men, women and kids under the Abercrombie & Fitch, abercrombie kids, Your Personal Best, Hollister and Gilly Hicks brands through stores, wholesale, franchise and licensing arrangements, and e-commerce. Founded in 1892 and based in New Albany, Ohio, the company continues to rely on a mix of physical and digital channels.
Item 2 of the filing explains why management presents non-GAAP measures alongside GAAP results. The company says these measures help investors evaluate operating performance after removing items it believes may not reflect future operating outlook, and it uses them to compare results across periods and to set expectations for future performance. Management also says the measures are a supplement, not a substitute, for GAAP and may not be calculated the same way by other companies.
One of the key non-GAAP metrics is comparable sales, which combines same-store sales for locations open at least one year with digital net sales, while excluding revenue other than store and digital sales. The company says it uses comparable sales to separate the effect of existing locations from the impact of openings and closures. For the 13 weeks ended May 2, 2026, net sales were $1.114 billion under GAAP, up 2% from $1.097 billion a year earlier; on a constant-currency basis, prior-year sales were adjusted to $1.108 billion. The foreign-currency impact on net sales was $11.0 million.
Operating income for the quarter was $88.8 million, down from $101.5 million a year earlier. On a constant-currency basis, prior-year operating income was adjusted to $109.0 million, and the company said foreign exchange reduced the comparison by $7.5 million. Net income per share attributable to A&F was $1.47, compared with $1.59 in the prior-year quarter; on a constant-currency basis, the prior-year figure was $1.70.
The company also presents EBITDA as a supplemental performance measure. For the quarter, EBITDA was $131.1 million, equal to 11.8% of net sales, versus $140.1 million, or 12.8%, in the prior-year period. The decline reflected lower net income of $68.1 million, compared with $81.7 million a year earlier, while depreciation and amortization rose to $42.3 million from $38.6 million. Interest income, net was $5.3 million in the quarter, compared with $6.8 million a year earlier, and income tax expense was $26.0 million, down slightly from $26.6 million. As a result of these announcements, the company's shares have moved -2.99% on the market, and are now trading at a price of $75.34. Check out the company's full 10-Q submission here.
