ABERCROMBIE & FITCH CO /DE/
For the period ended Aug 2, 2025. Filed Sep 5, 2025.
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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.
Aug 2, 2025 · Filed Sep 5, 2025
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SHARE-BASED COMPENSATION
- SHARE-BASED COMPENSATION
Financial statement impact
The following table provides share-based compensation expense and the related income tax impacts for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:
| Thirteen Weeks Ended | Twenty-Six Weeks Ended | |||
|---|---|---|---|---|
| (in thousands) | August 2, 2025 | August 3, 2024 | August 2, 2025 | August 3, 2024 |
| Share-based compensation expense | $9,793 | $9,233 | $20,384 | $20,596 |
| Income tax benefits associated with share-based compensation expense recognized | 1,487 | 1,240 | 2,885 | 2,518 |
The following table provides discrete income tax benefits and charges related to share-based compensation awards during the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:
| Thirteen Weeks Ended | Twenty-Six Weeks Ended | |||
|---|---|---|---|---|
| (in thousands) | August 2, 2025 | August 3, 2024 | August 2, 2025 | August 3, 2024 |
| Income tax discrete benefits realized for tax deductions related to the issuance of shares | $247 | $2,778 | $4,838 | $17,332 |
The following table provides the amount of employee tax withheld by the Company upon the issuance of shares associated with restricted stock units vesting and the exercise of stock appreciation rights for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:
| Thirteen Weeks Ended | Twenty-Six Weeks Ended | |||
|---|---|---|---|---|
| (in thousands) | August 2, 2025 | August 3, 2024 | August 2, 2025 | August 3, 2024 |
| Employee tax withheld upon issuance of shares (1) | $768 | $2,052 | $34,830 | $67,225 |
(1) Classified within financing activities on the Condensed Consolidated Statements of Cash Flows.
| Abercrombie & Fitch Co. | 15 | 2025 2Q Form 10-Q |
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Restricted stock units
The following table provides the summarized activity for restricted stock units for the twenty-six weeks ended August 2, 2025:
| Service-based RestrictedStock Units | Performance-based RestrictedStock Units | Market-based RestrictedStock Units | ||||
|---|---|---|---|---|---|---|
| Number of UnderlyingShares | Weighted-Average GrantDate Fair Value | Number of UnderlyingShares | Weighted-Average GrantDate Fair Value | Number of UnderlyingShares | Weighted-Average GrantDate Fair Value | |
| Unvested at February 1, 2025 | 1,173,185 | $47.95 | 424,541 | $40.76 | 212,287 | $58.95 |
| Granted | 424,497 | 78.71 | 95,309 | 78.69 | 47,663 | 85.88 |
| Adjustments for performance achievement | — | — | 152,539 | 30.12 | 87,168 | 41.38 |
| Vested | (522,929) | 42.60 | (326,867) | 30.12 | (174,336) | 41.38 |
| Forfeited | (34,962) | 56.93 | (2,956) | 89.06 | (1,478) | 109.36 |
| Unvested at August 2, 2025 (1) | 1,039,791 | $63.00 | 342,566 | $56.31 | 171,304 | $74.95 |
(1)Unvested shares related to restricted stock units with performance-based and market-based vesting conditions are reflected at 100% of their target vesting amount in the table above. Unvested shares related to restricted stock units with performance-based and market-based vesting conditions can be achieved from zero up to 200% of their target vesting amount.
The following table provides the unrecognized compensation cost and the remaining weighted-average period over which these costs are expected to be recognized for restricted stock units as of August 2, 2025:
| Service-based RestrictedStock Units | Performance-based RestrictedStock Units | Market-based RestrictedStock Units | |
|---|---|---|---|
| Unrecognized compensation cost (in thousands) | $55,180 | $12,220 | $7,027 |
| Remaining weighted-average period cost is expected to be recognized (years) | 1.3 | 0.9 | 1.1 |
The following table provides additional information pertaining to restricted stock units for the twenty-six weeks ended August 2, 2025 and August 3, 2024:
| Twenty-Six Weeks Ended | ||
|---|---|---|
| (in thousands) | August 2, 2025 | August 3, 2024 |
| Service-based restricted stock units: | ||
| Total grant date fair value of awards granted | $33,412 | $28,766 |
| Total grant date fair value of awards vested | 22,277 | 20,500 |
| Performance-based restricted stock units: | ||
| Total grant date fair value of awards granted | 7,500 | 6,483 |
| Total grant date fair value of awards vested | 9,845 | 9,659 |
| Market-based restricted stock units: | ||
| Total grant date fair value of awards granted | 4,093 | 4,860 |
| Total grant date fair value of awards vested | 7,214 | 7,574 |
The following table provides the weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the twenty-six weeks ended August 2, 2025 and August 3, 2024:
| Twenty-Six Weeks Ended | ||
|---|---|---|
| August 2, 2025 | August 3, 2024 | |
| Grant date market price | $78.69 | $120.56 |
| Fair value | 85.88 | 180.71 |
| Price volatility | 61% | 59% |
| Expected term (years) | 2.9 | 2.9 |
| Risk-free interest rate | 3.8% | 4.3% |
| Dividend yield | — | — |
| Average volatility of peer companies | 45.6 | 51.8 |
| Average correlation coefficient of peer companies | 0.4430 | 0.4866 |
| Abercrombie & Fitch Co. | 16 | 2025 2Q Form 10-Q |
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