Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-12107 Abercrombie & Fitch Co. (Exact name of Registrant as specified in its charter) Delaware 31-1469076 (State ...

Financial Data and Key Metrics Changes - Total net sales for Q2 2021 reached $865 million, up 24% year-over-year and up 3% compared to Q2 2019 [25][26] - Gross margin rate increased by 450 basis points year-over-year and 590 basis points compared to Q2 2019, achieving the best Q2 gross margin since 2009 [10][29] - Operating income for the quarter was $116 million, compared to $22 million in the previous year, marking the best Q2 operating income since 2008 [31] Business Line Data and Key Metrics Changes - Hollister brand net sales increased by 20% year-over-year, while Abercrombie brand net sales rose by 30% [26] - Digital sales remained steady compared to last year and grew 52% from Q2 2019, representing 44% of total sales for the quarter [25][29] - Gilly Hicks brand saw sales rise approximately 30% year-over-year, marking the fifth consecutive quarter of double-digit total sales gains [16] Market Data and Key Metrics Changes - U.S. sales increased by 31% year-over-year and 11% compared to two years ago, despite having fewer stores and less square footage [26][27] - EMEA sales rose 11% year-over-year but were down 5% compared to two years ago, reflecting ongoing COVID-related restrictions [27] - APAC sales were down 1% year-over-year and down 39% compared to Q2 2019, with traffic challenges persisting in the region [28] Company Strategy and Development Direction - The company is focused on a digital-first, omnichannel retail strategy, with significant investments in technology and marketing [6][14] - The Global Store Network Optimization initiative aims to align with shifting customer shopping behaviors, including the closure of underperforming stores [9][24] - The company plans to continue leveraging its strong balance sheet for share repurchases and investments in growth opportunities [33][38] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for Q3, noting strong back-to-school season performance in the U.S. and improvements in EMEA [23][24] - The company is proactively managing supply chain disruptions and inflationary pressures while maintaining inventory discipline [29][36] - Management anticipates a longer back-to-school season and expects to surpass the previously stated 5.8% operating margin goal for the year [24][38] Other Important Information - The company repurchased approximately 2.4 million shares for $100 million during the quarter, with a total of about 3.5 million shares repurchased year-to-date [32][33] - The company opened 14 new stores in the quarter, bringing the total to 18 for the year-to-date period, while closing 12 stores [33] Q&A Session Summary Question: Insights on Gilly Hicks brand and promotional environment - Management highlighted the positive momentum for Gilly Hicks, emphasizing its brand purpose and customer resonance, while maintaining tight inventory control for the promotional environment [40][42][43] Question: Gross margin sustainability and expectations for Q3 - Management expressed confidence in maintaining improved gross margins, although Q3 is expected to see a slight decline due to increased freight costs [45][46] Question: Denim category growth and marketing investments - Management noted a significant trend in denim styles and expected continued growth, while increasing marketing investments to drive engagement across brands [48][50] Question: Sales guidance and European market performance - Management indicated cautious optimism for sales growth in Europe, while addressing inventory challenges impacting Q3 performance [58][60] Question: Store productivity levels and supply chain constraints - Management confirmed stronger productivity in the U.S. compared to EMEA and acknowledged ongoing supply chain challenges affecting future quarters [66][70]

Financial Data and Key Metrics Changes - The company reported net sales of $781 million, up 61% year-over-year, and a 6% increase compared to Q1 2019 [26][27] - Gross profit rate was 63.4%, up 900 basis points year-over-year and 290 basis points compared to Q1 2019 [29] - Operating income reached $60 million, marking the best first quarter operating income since 2008 [30] Business Line Data and Key Metrics Changes - Hollister's net sales increased by 62%, while Abercrombie's net sales rose by 60% [26] - Digital sales grew 45% year-over-year, accounting for 52% of total sales [9][26] - Gilly Hicks experienced a 90% increase in sales, indicating strong performance in the brand [56] Market Data and Key Metrics Changes - U.S. sales were up 72% year-over-year, with an 18% increase compared to Q1 2019 [27] - EMEA sales rose 41% year-over-year but were down 9% compared to Q1 2019 due to COVID-related restrictions [27] - APAC sales increased by 42% year-over-year but decreased by 30% compared to Q1 2019 [28] Company Strategy and Development Direction - The company is focused on transitioning to a digital-first global omni-channel retailer, enhancing customer engagement through digital platforms [13][24] - There is a commitment to global store network optimization, reducing larger format locations in favor of smaller, omni-enabled stores [23] - The launch of the Social Tourist brand aims to tap into the power of social selling and attract a younger customer base [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for Q2, anticipating benefits from lifted COVID restrictions and a more normalized back-to-school season [25] - The company plans to maintain lean inventory levels and continue to manage expenses tightly while investing in growth opportunities [34][54] - There is an expectation of ongoing inflation in transportation and labor costs, but the company believes it can absorb these shocks [41][42] Other Important Information - The company ended the quarter with inventories down 9% year-over-year, reflecting disciplined inventory management [11][29] - A share buyback program was resumed, with approximately 1.1 million shares repurchased for $35 million [32] Q&A Session Summary Question: What are the expectations for the Social Tourist brand and denim sales? - Management is excited about Social Tourist, noting significant early engagement and views, and sees a strong denim opportunity for back-to-school [39][40] Question: Can you provide insights on Q2 trends and brand performance? - Q2 has shown continued momentum, with both brands performing well in the U.S., while European performance remains inconsistent due to ongoing restrictions [45][46] Question: How are you planning for labor and transportation cost inflation? - The company anticipates inflation in transportation and labor costs but believes it can manage these through effective supply chain strategies [41][42] Question: What are the expectations for back-to-school and the impact of the child tax credit? - Management is cautiously optimistic about a normalized back-to-school season and hopes to see a positive impact from the child tax credit [50][52] Question: How do you view the sustainability of EBIT margins moving forward? - The company remains committed to its EBIT margin target and believes that controlling expenses and maintaining gross margins will support this goal [48][59]

Abercrombie & Fitch Co. (NYSE:ANF) Q4 2020 Earnings Conference Call March 2, 2021 8:30 AM ET Company Participants Pam Quintiliano - VP of IR Fran Horowitz - CEO & Director Scott Lipesky - Senior VP & CFO Conference Call Participants Dana Telsey - Telsey Advisory Group Kelly Crago - Citigroup Inc. Ryan Vaughan - Needham Susan Anderson - B. Riley Securities Mauricio Serna - UBS Investment Bank Matt Boss - JPMorgan Janine Stichter - Jefferies Kate Fitzsimons - RBC Capital Janet Kloppenburg - JJK Research Asso ...

Table of Contents (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.01 Par Value ANF New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2020 or ☐ TRANSITION R ...

Financial Data and Key Metrics Changes - Total company revenues declined by 5%, which was better than the forecasted decline of 15% to 20% [7][24] - Digital revenues rose by 43% to a record $382 million for the third quarter, with significant improvements in traffic and conversion rates [8][24] - The total company gross margin rate expanded by 390 basis points, benefiting from reduced promotions and better foreign exchange rates [9][28] - Operating income was $65 million compared to $25 million last year, marking the best Q3 operating income since 2012 [30] Business Line Data and Key Metrics Changes - At Hollister, sales declined by 7%, which exceeded internal expectations, with strong performance in girls' dresses and guys' shorts [10][24] - Gilly Hicks experienced double-digit sales growth, including over 100% digital growth from last year [11] - Abercrombie's combined sales declined by 2%, with women's experiencing double-digit sales growth [14] Market Data and Key Metrics Changes - By region, net sales declined by 4% in the U.S., 1% in EMEA, and 22% in APAC, which is the smallest region [24] - Reopened store productivity was approximately 75% of prior year levels across regions, with improvements noted in store traffic [25][26] Company Strategy and Development Direction - The company is focused on optimizing its global store network, with plans to close additional flagship locations to reduce costs and improve profitability [18][19] - There is a commitment to enhancing digital and omni-channel capabilities, with digital sales expected to account for a larger portion of revenues moving forward [21][58] - The company aims to balance its store presence with digital growth, emphasizing the importance of both channels in the omni-channel retail strategy [58] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the holiday season, acknowledging uncertainties related to COVID-19 and potential store closures [22][34] - The company is focused on controlling inventory and maximizing digital throughput while preparing for potential challenges in the upcoming quarter [22][33] - Management remains confident in the long-term profitability and margin targets, despite the challenges posed by the pandemic [42] Other Important Information - The company ended the quarter with cash and cash equivalents of $813 million and total liquidity of approximately $1.2 billion [31] - Capital expenditures for the year are expected to be around $110 million, with a focus on both store and digital technology investments [31] Q&A Session Summary Question: Insights on remaining flagships and Gilly Hicks growth - Management confirmed plans to close seven more flagship stores, focusing on repositioning to smaller, more local locations [38] - Gilly Hicks is experiencing strong digital growth, and the company is taking a cautious approach to its expansion until store operations normalize [39] Question: Long-term operating margin opportunities - Management remains confident in achieving long-term operating margin targets, emphasizing a shift towards variable costs and reduced fixed costs [41][42] Question: Denim trends and markdown impacts - The company has seen positive trends in denim, particularly in women's categories, and lower markdowns contributed significantly to gross profit improvements [45][46] Question: Working capital performance - The company has successfully managed working capital, benefiting from extended vendor terms, and aims to maintain lean inventory levels [49][50] Question: Flagship strategy and supply chain costs - Management reiterated that large flagships are not part of the future strategy, focusing instead on intimate brand experiences [53] - Increased shipping and handling costs are anticipated due to higher digital sales volumes and carrier rate increases [54] Question: Digital business growth and profitability - The digital channel has significantly contributed to operating margin expansion, and the company plans to continue leveraging this growth [68]

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.01 Par Value ANF New York Stock Exchange Class A Common Stock Shares outstanding as of September 3, 2020 $0.01 Par Value 62,373,175 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 1, 2020 or ☐ TRANSITION REPORT PURSU ...

Financial Data and Key Metrics Changes - Total Q2 revenues decreased by 17% compared to the previous year, amounting to $698 million [6][24] - Gross profit rate improved by 140 basis points to 60.7%, driven by lower promotions and improved average unit retail (AUR) [6][28] - Operating income reached $22 million, a significant improvement from a loss of $39 million in the previous year [31] - Operating cash flow generated was $187 million, with cash and equivalents ending the quarter at $767 million, providing total liquidity of approximately $1.1 billion [6][32] Business Line Data and Key Metrics Changes - Net sales for Hollister (including Gilly Hicks) declined by 15%, while Abercrombie (including kids) saw a 20% decrease [24] - Digital sales grew by 56% year-over-year, reaching $386 million, with strong performance across all brands [11][24] - Hollister's performance was strong, representing roughly 50% of average store revenues in 2019, with double-digit growth in key categories [13] Market Data and Key Metrics Changes - In the U.S., net sales declined by 16%, while EMEA saw a 15% decline, and APAC experienced a 38% drop, which is the smallest region [24] - Store productivity in the U.S. was at 75% of the previous year, with 85% of the store base open by the end of the quarter [25] - The company noted a decline in store traffic year-over-year, partially offset by improved conversion rates [10][25] Company Strategy and Development Direction - The company is focused on transformation initiatives, including reducing store square footage, enhancing digital capabilities, and improving supply chain efficiency [7][23] - There is an emphasis on maintaining strong liquidity to support strategic decisions and long-term investments [6][32] - The company plans to address approximately 25% of its leases up for renewal by year-end, evaluating options for store optimization [23][33] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the back-to-school season, anticipating an extended selling period into September and October [22][34] - The company is preparing for potential challenges in the holiday season, emphasizing a conservative approach to inventory and expense management [75][76] - Management highlighted the importance of staying close to customers and adapting product offerings based on changing consumer behavior [8][38] Other Important Information - The company suspended its dividend and share repurchase programs due to market uncertainty [34] - Environmental, social, and governance initiatives continue to be a focus, with campaigns supporting social causes [20] Q&A Session Summary Question: Strength of denim sales and future merchandising plans - Management was excited about the denim business performance and emphasized the importance of maintaining a balanced assortment to meet customer demand [37][38] Question: Profitability of e-commerce and handling shipping surcharges - E-commerce remains profitable on a 4-wall basis, and the company is working with carriers to manage expected shipping surcharges during the holiday season [41][43] Question: Back-to-school demand and its impact on sales - Management expects back-to-school demand to extend longer than usual, with a focus on managing inventory accordingly [46][48] Question: SG&A savings and their permanence - SG&A savings achieved in Q2 were a result of a zero-based budgeting exercise, with some savings expected to be temporary as the company plans for the long term [78][80] Question: Rent concessions and occupancy expenses - The $26 million occupancy expense decline is considered permanent, with expectations for additional rent concessions as negotiations with landlords continue [71][72]