• American Eagle Outfitters (AEO) for young adults and teens.
• A multi-brand casual apparel company, similar to a more youth-focused version of Gap Inc. (GPS).

• Apparel: Abercrombie & Fitch offers a wide range of clothing for men, women, and children, including casual wear, outerwear, denim, and dresses, under its various brands.
• Accessories: This category includes items such as bags, belts, hats, scarves, and jewelry designed to complement its apparel lines.
• Fragrances & Personal Care: This segment offers colognes, perfumes, body lotions, and washes, extending the brand's lifestyle offerings.

Abercrombie & Fitch (ANF)

Abercrombie & Fitch (ANF) primarily sells its products directly to individual consumers through its various brand retail stores (both physical and online) across the globe. Therefore, it does not have "major customer companies" in the traditional business-to-business (B2B) sense.

Categories of Individual Customers Served:

• Young Adults (Abercrombie & Fitch brand):

  This category includes individuals typically in their late teens, 20s, and early 30s. They are often seeking contemporary, high-quality, and comfortable casual wear for various occasions. The brand targets those who appreciate a classic American style with a modern twist, suitable for daily wear and social settings.

• Teenagers and Young Adults (Hollister Co. brand):

  This demographic primarily consists of teenagers and young adults, generally from middle school through college age (roughly 14-24). They are drawn to Hollister's laid-back, Southern California-inspired aesthetic, focusing on casual and comfortable apparel that reflects current trends in youth fashion.

• Children (abercrombie kids brand):

  This segment serves children typically ranging from ages 5 to 14. abercrombie kids offers comfortable, durable, and stylish clothing that mirrors the aesthetic of the adult Abercrombie brand but is tailored for younger age groups, focusing on everyday wear for school and play.

• Crystal International Group Limited (0223.HK)
• Gildan Activewear Inc. (GIL)
• Tainan Enterprises Co., Ltd. (1473.TW)

Fran Horowitz, Chief Executive Officer

• Fran Horowitz has served as Chief Executive Officer of Abercrombie & Fitch Co. since February 2017.
• She joined Abercrombie & Fitch Co. in October 2014 as the Hollister Brand President and was promoted to President and Chief Merchandising Officer in December 2015.
• Prior to Abercrombie & Fitch Co., Ms. Horowitz served as Brand President at Ann Taylor Loft and held leadership roles in merchandising at Express, Inc., Bloomingdale's, Bergdorf Goodman, Bonwit Teller, and Saks Fifth Avenue.
• She currently serves on the Board of Directors for Conagra Brands, Inc. and Bombas.

Robert Ball, Senior Vice President, Chief Financial Officer

• Robert Ball has been the Senior Vice President and Chief Financial Officer of Abercrombie & Fitch Co. since 2024.
• Prior to this role, he served as Senior Vice President, Corporate Finance, Investor Relations, and Treasury of the Company from May 2023 to November 2024.

Scott Lipesky, Executive Vice President, Chief Operating Officer

• Scott Lipesky has been Executive Vice President, Chief Operating Officer of Abercrombie & Fitch Co. since May 2023.
• He previously served as Chief Financial Officer of the company from October 2017 to November 2024.
• Mr. Lipesky joined Abercrombie & Fitch Co. in 2017 from American Signature Inc., where he was CFO.
• His experience also includes nine years with Abercrombie & Fitch Co. in various finance roles, including CFO of the Hollister brand.
• He also held roles as corporate finance director with FTI Consulting and director of corporate business development with The Goodyear Tire & Rubber Company, and began his career at PricewaterhouseCoopers.

Samir Desai, Executive Vice President, Chief Digital and Technology Officer

• Samir Desai has served as Executive Vice President, Chief Digital and Technology Officer of Abercrombie & Fitch Co. since 2021.
• Prior to joining A&F, he held various leadership roles at Equinox Group, including Chief Technology Officer, Vice President of Technology, Senior Director of Technology, and Director of Technology.
• He also served as Director of Information Technology at Intertex Apparel Group.

Gregory Henchel, Executive Vice President, General Counsel and Corporate Secretary

• Gregory Henchel serves as Executive Vice President, General Counsel and Corporate Secretary for Abercrombie & Fitch Co.

Ultra-fast fashion retailers (e.g., Shein, Temu) leverage direct-to-consumer models, AI-driven trend identification, and agile supply chains to offer an unparalleled volume of hyper-trendy clothing at extremely low price points. This model directly competes with ANF for their target demographic's spending by rapidly shifting consumer expectations for speed, affordability, and constant novelty, fundamentally challenging traditional retail supply chains and pricing structures.

The growing mainstream adoption of online resale platforms (e.g., Poshmark, Depop, ThredUp) presents an emerging threat by normalizing the purchase and sale of pre-owned clothing. This trend, driven by sustainability concerns and a desire for unique, affordable items, diverts consumer spending away from new apparel purchases, impacting the demand for fresh inventory from traditional retailers like ANF.

Global Apparel Market

• The global apparel market is valued at approximately $1.84 trillion in 2025.
• It is projected to grow from $1.80 trillion in 2025 to $2.97 trillion by 2033, demonstrating a Compound Annual Growth Rate (CAGR) of 8.02%.
• Another estimate valued the global apparel market at $1.77 trillion in 2024, with projections to reach $2.26 trillion by 2030, growing at a CAGR of 4.2% from 2025 to 2030.

U.S. Apparel Market

• The United States apparel market is valued at $365.70 billion in 2025.
• Other analysis indicates the U.S. apparel market was valued at $355 billion based on a five-year historical analysis.
• Retail sales for adult clothing in the U.S. are estimated at $304 billion for 2024.

Global Kids/Children's Apparel Market

• The global kids' apparel market was valued at $211.6 billion in 2024 and is projected to grow to $366.7 billion by 2032, with a CAGR of 7.17%.
• Another projection estimates the global children's apparel market at $250 billion in 2024, expanding to $340 billion by 2030 with a CAGR of 5.2%.
• The global kids' wear market was valued at $194.1 billion in 2022 and is projected to reach $286.9 billion by 2032, growing at a CAGR of 4.1%.

U.S. Women's Apparel Market

• The U.S. women's apparel market is projected to grow from approximately $291.58 billion in 2023 to about $390.49 billion by 2032, at a CAGR of 3.30%.

Abercrombie & Fitch (ANF) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies:

1. Focused Brand Growth: The company's "Always Forward Plan" centers on growing its core Abercrombie and Hollister brands. The Abercrombie brands are expected to continue their strong performance, while Hollister is seen as a robust growth engine, successfully resonating with teen consumers through effective brand activations and relevant product lines, such as Curve Love Jeans. Both brands have demonstrated strong customer traffic in both physical stores and digital channels.

2. Enterprise-Wide Digital Revolution and Investments: A core strategic principle involves accelerating digital initiatives. Abercrombie & Fitch is continuously investing in its digital platforms and customer analytics to enhance the online shopping experience and improve operational efficiency. Digital channels are a significant contributor to sales, particularly for the Abercrombie brand.

3. Global Market Expansion and Store Optimization: The company plans to expand its physical footprint by opening new stores in strategic international locations. This includes a focus on the U.K., Europe (especially Germany), and the APAC region. Fiscal year 2025 plans include approximately 40 net new store openings and 40 remodels, reflecting a global store network optimization initiative.

4. Enhanced Customer Acquisition and Engagement: A key area of focus is increasing global marketing investments to build community and brand affinity. This strategy includes leveraging influencer marketing and user-generated content to effectively reach its digitally-native customer base. Furthermore, investments in loyalty programs and digital initiatives are designed to foster customer retention and encourage repeat purchases.

5. Product Innovation and Assortment Expansion: Abercrombie & Fitch is concentrating on collection extensions and introducing relevant product lines to meet evolving consumer preferences. This involves continuous product adaptation and a strategic shift towards a more sophisticated and inclusive brand image that appeals to a broader consumer demographic.

Share Repurchases

• A new $1.3 billion share buyback program was authorized in March 2025, replacing a prior $500 million authorization from 2021, with $1.1 billion remaining under the new program.
• The company plans to execute approximately $400 million in share repurchases in fiscal year 2025.
• Abercrombie & Fitch repurchased $200 million worth of shares in Q1 2025 and returned $50 million to shareholders through buybacks in Q2 2025, marking its sixth consecutive quarter of repurchases.

Capital Expenditures

• Capital expenditures were $182.9 million in fiscal year 2024 and are expected to increase to $225 million in fiscal year 2025.
• For the period ending August 2, 2025, capital expenditures amounted to -$194.8 million.
• Primary focus areas include investments in new stores, improvements to existing facilities, and enhancing digital capabilities, including modernizing retail ERP systems and creating consistent omnichannel experiences; the company anticipates approximately 40 net new store openings in fiscal 2025.