ABERCROMBIE FITCH CO DE
For the period ended Aug 3, 2024. Filed Sep 6, 2024.
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Aug 3, 2024 · Filed Sep 6, 2024
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ASSET IMPAIRMENT
- ASSET IMPAIRMENT
The following table provides asset impairment charges for the thirteen and twenty-six weeks ended August 3, 2024 and July 29, 2023:
| Thirteen Weeks Ended | Twenty-Six Weeks Ended | |||
|---|---|---|---|---|
| (in thousands) | August 3, 2024 | July 29, 2023 | August 3, 2024 | July 29, 2023 |
| Operating lease right-of-use asset impairment | $471 | $— | $810 | $1,414 |
| Property and equipment asset impairment | 230 | — | 757 | 3,022 |
| Total asset impairment | $701 | $— | $1,567 | $4,436 |
Asset impairment charges for the twenty-six weeks ended August 3, 2024 and July 29, 2023 related to certain of the Company’s store assets. The store impairment charges for the twenty-six weeks ended August 3, 2024 reduced the then carrying amount of the impaired stores’ assets to their fair value of approximately $6.0 million, including $5.3 million related to operating lease right-of-use assets.
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