ABERCROMBIE & FITCH CO /DE/
For the period ended Feb 1, 2025. Filed Mar 31, 2025.
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FY2025 · Filed Mar 31, 2025
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INVENTORIES
- INVENTORIES
Inventories consisted of:
| (in thousands) | February 1, 2025 | February 3, 2024 |
|---|---|---|
| Inventories at original cost | $603,602 | $500,020 |
| Less: Lower of cost and net realizable value adjustment | (28,597) | (30,554) |
| Inventories (1) | $575,005 | $469,466 |
(1) Included $115.0 million and $103.5 million of inventory in transit, merchandise owned by the Company that has not yet been received at a Company DC, as of February 1, 2025 and February 3, 2024, respectively.
A summary of the Company’s vendors based on location and the percentage of cost of merchandise receipts during Fiscal 2024, Fiscal 2023 and Fiscal 2022 follows:
| % of Total Company Merchandise Receipts (1) | |||
|---|---|---|---|
| Location | Fiscal 2024 | Fiscal 2023 | Fiscal 2022 |
| Vietnam | 35% | 34% | 33% |
| Cambodia | 22 | 19 | 17 |
| India | 12 | 12 | 9 |
| China (2) | 7 | 9 | 13 |
| Other (3) | 24 | 26 | 28 |
| Total | 100% | 100% | 100% |
(1)Calculated as the cost of merchandise receipts from all vendors within a country during the respective fiscal year divided by cost of total merchandise receipts during the respective fiscal year.
(2)Only a portion of the Company’s total merchandise sourced from China is subject to the additional U.S. tariffs on imported consumer goods that were effective beginning in Fiscal 2019. The Company estimates approximately 5%,7%, and 9% of total merchandise receipts were directly imported to the United States from China in Fiscal 2024, Fiscal 2023 and Fiscal 2022, respectively.
(3) No country included within this category sourced more than 10% of total merchandise receipts during any fiscal year presented above.
Refer to Note 2,“SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Inventories,” for discussion regarding significant accounting policies related to the Company’s inventories.
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