ABERCROMBIE FITCH CO DE
For the period ended Nov 2, 2024. Filed Dec 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Nov 2, 2024 · Filed Dec 6, 2024
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ASSET IMPAIRMENT
- ASSET IMPAIRMENT
The following table provides asset impairment charges for the thirteen and thirty-nine weeks ended November 2, 2024 and October 28, 2023:
| Thirteen Weeks Ended | Thirty-Nine Weeks Ended | |||
|---|---|---|---|---|
| (in thousands) | November 2, 2024 | October 28, 2023 | November 2, 2024 | October 28, 2023 |
| Operating lease right-of-use asset impairment | $233 | $— | $1,043 | $1,414 |
| Property and equipment asset impairment | 5,266 | — | 6,023 | 3,022 |
| Total asset impairment | $5,499 | $— | $7,066 | $4,436 |
Asset impairment charges for the thirty-nine weeks ended November 2, 2024 and October 28, 2023 related to certain of the Company’s store assets, primarily in the APAC segment. The store impairment charges for the thirty-nine weeks ended November 2, 2024 reduced the then carrying amount of the impaired stores’ assets to their fair value of approximately $6.4 million, including $5.1 million related to operating lease right-of-use assets.
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