At a glance
Abercrombie & Fitch Company is worth $6.84B, about 15 times its fiscal 2026 earnings. Revenue grew 6.4% to $5.27B in fiscal 2026, with 9.6% kept as profit; over 5 years it has grown 11.0% a year. It pays no dividend; it spent $1.18B buying back its shares over FY2022–FY2026. The stock returned +116.2% over the past year with dividends reinvested and +32.8% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 52.0% in the 2020 crash (S&P 500: 33.7%) and 64.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months and 11 months after the lows.
The business in plain English
Abercrombie & Fitch sells clothing, personal care products such as fragrance, and accessories for men, women and kids. It runs two brand families. The Abercrombie family includes Abercrombie & Fitch and abercrombie kids. The Hollister family includes Hollister and Gilly Hicks. In the fiscal year ended January 31, 2026, revenue was $5.27 billion, up 6.4%. Hollister brands brought in 52.1% of that revenue and Abercrombie brands 47.9%.
Most sales go straight to shoppers through company-owned stores, websites and four mobile apps. As of January 31, 2026, the company ran 829 stores, all leased and mostly in shopping centers, and franchise partners ran 60 more. Most Abercrombie-brand sales happen online, while most Hollister sales happen in stores. The company also sells through wholesale partners. It licenses its brands to outside companies that make and sell products such as eyewear and fragrance. In that fiscal year it kept 61.5 cents of each sales dollar after the cost of the goods (its gross margin) and 13.3 cents as operating profit.
The company reports its results in three regions. The Americas, covering North and South America, produced 81.5% of revenue. Europe, the Middle East and Africa added 15.5%, and Asia-Pacific added 3%. The company aims to grow through new stores, digital sales, new product categories and more franchise, wholesale and licensing partners.
Price history
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ANF +116.2% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Hollister | $2.74B | 52.1% |
| Abercrombie | $2.52B | 47.9% |
By geography
| Americas | $4.29B | 81.5% |
| EMEA | $818.1M | 15.5% |
| Asia Pacific | $157.8M | 3% |
Latest results
- In Q2 FY2027 (ended Aug 1, 2026), revenue was $1.27B, up 4.8% from a year earlier, and net income was $183.7M (+29.9%).
- For fiscal 2026, revenue was $5.27B (+6.4% year over year; +11.0% a year from FY2021 to FY2026) with a 9.6% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +11.0% good |
|---|---|
| Operating margin | 13.3% watch |
| Free cash flow margin | 7.2% watch |
| Return on equity (FY2026) | 36.1% good |
| Return on assets (FY2026) | 14.3% good |
| Cash and investments | $638.0M (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.13B | $-114.0M | $303.0M |
| FY2022 | $3.71B | $263.0M | $180.8M |
| FY2023 | $3.70B | $2.8M | $-166.9M |
| FY2024 | $4.28B | $328.1M | $495.6M |
| FY2025 | $4.95B | $566.2M | $527.5M |
| FY2026 | $5.27B | $506.9M | $378.4M |
Valuation snapshot
| Market value | $6.84B |
|---|---|
| P/E ratio | 15.4 |
| Dividend yield | 0% |
Rank among 1514 US companies
Market value at each year end
Abercrombie & Fitch’s market value went from $812.1M at the end of 2016 to $6.84B on Oct 28, 2026, about 8.4 times as much; since the end of 2025 it is up 19%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $6.84B | +18.5% |
| 2025 | $5.77B | -23.3% |
| 2024 | $7.53B | +69.3% |
| 2023 | $4.45B | +296.1% |
| 2022 | $1.12B | -42.9% |
| 2021 | $1.97B | +54.9% |
| 2020 | $1.27B | +17.1% |
| 2019 | $1.08B | -17.8% |
| 2018 | $1.32B | +11.2% |
| 2017 | $1.19B | +46.2% |
| 2016 | $812.1M |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ANF price data to Oct 28, 2026 | +28.1% | +116.2% | +40.0% | +32.8% | +29.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +28.1% |
| 2025 | -15.8% |
| 2024 | +69.4% |
| 2023 | +285.1% |
| 2022 | -34.2% |
| 2021 | +71.1% |
| 2020 | +19.8% |
| 2019 | -9.8% |
| 2018 | +19.3% |
| 2017 | +54.1% |
| 2016 | -53.7% |
| 2015 | -2.3% |
| 2014 | -11.1% |
| 2013 | -30.0% |
| 2012 | 0.0% |
| 2011 | -14.2% |
| 2010 | +68.5% |
| 2009 | +54.8% |
| 2008 | -70.6% |
| 2007 | +15.9% |
| 2006 | +8.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 78.8% over that stretch · deepest drop along the way 83.1%, back to its old high 178.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 50.4% over that stretch · deepest drop along the way 52%, back to its old high 6.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 55.7% over that stretch · deepest drop along the way 64.9%, back to its old high 11.4 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 9 sales ($10.6M), 4 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 28, 2026 | Gregory J Henchel EVP, Chief Legal Off & Secy | sell | $4.4M |
| Aug 10, 2026 | Scott D. Lipesky EVP and COO | sell (plan) | $1.1M |
| Aug 4, 2026 | Scott D. Lipesky EVP and COO | sell (plan) | $1.1M |
| Jul 28, 2026 | Scott D. Lipesky EVP and COO | sell (plan) | $1.1M |
| Jul 16, 2026 | Scott D. Lipesky EVP and COO | sell (plan) | $1.0M |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 12.1% | Mar 31, 2025 |
| FMR LLC | 8.2% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.52% | Mar 31, 2026 |
| AQR Capital Management, LLC | 5.47% | Jun 30, 2026 |
| Vanguard Capital Management | 5.35% | Mar 31, 2026 |
ETFs with the most weight in ANF
| SFLO VictoryShares Small Cap Free Cash Flow ETF | 1.12% |
| GRPM Invesco S&P MidCap 400 GARP ETF | 1.05% |
| RFG Invesco S&P MidCap 400® Pure Growth ETF | 0.96% |
| FSGS First Trust SMID Growth Strength ETF | 0.67% |
| GVLU Gotham 1000 Value ETF | 0.5% |
| WCEO Hypatia Women CEO ETF | 0.47% |
| FCPI Fidelity Stocks for Inflation ETF | 0.4% |
| OMFS Invesco Russell 2000 Dynamic Multifactor ETF | 0.36% |
What could go wrong
- Tariffs on goods from Vietnam and Cambodia. About 37% of merchandise costs in the year ended January 31, 2026 came from vendors in Vietnam and 26% from Cambodia. The company says tariff changes have hurt results and could continue to.
- Fashion misses can force markdowns. Orders are placed well before each selling season. If styles fall out of favor, unsold stock leads to markdowns and thinner margins. If demand is underestimated, shortages mean lost sales.
- Dependence on shopping mall traffic. All 829 company-owned stores were leased as of January 31, 2026, mostly in shopping centers, and most Hollister sales happen in stores. Weaker mall traffic would mean fewer shoppers walking in.
- Risks from a major systems overhaul. A new merchandising ERP system (core software for planning, buying and tracking inventory) went live in March 2026. Problems with projects like this can disrupt operations, results and financial reporting controls.
- Crowded, price-driven competition. Abercrombie competes with fast-fashion, off-price and online-only brands that have changed what shoppers expect to pay. Heavy discounting could protect sales but dull the brands' aspirational image.
- Spending slowdowns and currency swings. Clothing sales can fall when consumer confidence weakens. With 15.5% of revenue from Europe, the Middle East and Africa and 3% from Asia-Pacific, currency swings also affect reported results.
Recent events
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Shareholder vote results
- Quarterly results released
- Quarterly results released
- Investor presentation or announcement
- Executive or board change
- Quarterly results released
For income and retirement investors
Abercrombie & Fitch pays no dividend. Its yield was 0% as of October 28, 2026. It paid $0.28 per share in the fiscal year that ended in early 2021 and nothing since, so income investors would rely on share-price gains rather than payouts. The company returns cash through buybacks instead. It spent about $1.18 billion on them over the five fiscal years through January 31, 2026. That included $451 million in the final year, more than that year's $378 million of free cash flow (cash left after running and investing in the business). Shares outstanding fell 28.2% between September 2021 and August 2026, giving each remaining share a bigger slice of profits.
The stock has fallen hard in downturns. It dropped 83.1% in the 2008 financial crisis and took almost 15 years to recover. It fell 52% in the 2020 COVID crash and recovered in about seven months. It fell 64.9% in the 2022 bear market and recovered in about 11 months. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Abercrombie & Fitch make money?
Mainly by selling its branded clothing, fragrance and accessories directly to shoppers through company-owned stores, websites and apps. In the fiscal year ended January 31, 2026, revenue was $5.27 billion and net income was $507 million. Hollister brands produced 52.1% of sales and Abercrombie brands 47.9%. The Americas supplied 81.5% of revenue. Franchise, wholesale and licensing partners help it reach other markets.
Does Abercrombie & Fitch pay a dividend?
No. Abercrombie & Fitch's dividend yield was 0% as of October 28, 2026. It paid $0.28 per share in the fiscal year that ended in early 2021 and nothing in the five fiscal years since. Instead, it bought back about $1.18 billion of stock over those five years through January 31, 2026. Its share count fell 28.2% between September 2021 and August 2026.
Does Abercrombie & Fitch own Hollister?
Yes. Hollister is one of the company's two brand families, alongside Abercrombie, and it also includes the Gilly Hicks brand. Hollister was the larger of the two in the fiscal year ended January 31, 2026, bringing in 52.1% of revenue. As of that date, the company ran 523 Hollister stores and 306 Abercrombie stores. Most Hollister sales happen in stores rather than online.
Where does Abercrombie & Fitch get its clothes made?
Mostly in Southeast Asia, through independent suppliers. In the year ended January 31, 2026, the company bought merchandise from about 124 vendors in 15 countries, including the US. Vendors in Vietnam supplied about 37% of merchandise costs and vendors in Cambodia about 26%. The largest single vendor accounted for about 8%. That limits reliance on any one supplier. But the tilt toward two countries leaves the company exposed to tariff changes.
Is ANF stock volatile?
Yes. As of October 28, 2026, its one-year volatility (a measure of how widely the price swings) was 67.5%. The stock fell as much as 45.6% within that year and 65.9% over three years. Calendar years show the swings: up 285% in 2023, up 69.4% in 2024 and down 15.8% in 2025. The price averaged a 29.1% annual gain over 10 years, but its deepest decline in about 21 years of price history was 86.6%.