Derivative Instruments (Tables)

3 Months Ended

May 02, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Foreign Exchange Forward Contracts

As of May 2, 2026, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge either a portion, or all, of forecasted foreign-currency-denominated intercompany transactions:


(in thousands)	Notional Amount (1)
Euro	$	59,216
British pound	69,163
Canadian dollar	35,170

(1) Amounts reported are the U.S. dollar notional amounts outstanding as of May 2, 2026.

Location and Amounts of Derivative Fair Values on the Condensed Consolidated Balance Sheets

The fair value of derivative instruments is determined using quoted market prices of the same or similar instruments, adjusted for counterparty risk. The following table provides the location and amounts of derivative fair values of foreign currency exchange forward contracts on the Condensed Consolidated Balance Sheets as of May 2, 2026 and January 31, 2026:


(in thousands)	Location	May 2, 2026		January 31, 2026		Location	May 2, 2026		January 31, 2026
Derivatives designated as cash flow hedging instruments	Other current assets	$	354	$	24	Accrued expenses	$	946	$	2,336
Derivatives not designated as hedging instruments	Other current assets	13		326		Accrued expenses	42		—
Total		$	367	$	350		$	988	$	2,336

Location and Amounts of Derivative Gains and Losses on the Condensed Consolidated Statements of Operations and Comprehensive Loss

information pertaining to derivative gains or losses from foreign currency exchange forward contracts designated as cash flow hedging instruments for the thirteen weeks ended May 2, 2026 and May 3, 2025:




	Thirteen Weeks Ended
(in thousands)	May 2, 2026		May 3, 2025
Net gain (loss) recognized in AOCL (1)	$	1,390	$	(11,336)
Net (loss) gain reclassified from AOCL to cost of sales, exclusive of depreciation and amortization (2)	(695)		1,600

(1)Amount represents the change in fair value of derivative instruments.

(2)Amount represents gains and losses reclassified from AOCL to cost of sales, exclusive of depreciation and amortization, on the Condensed Consolidated Statements of Operations and Comprehensive Income when the hedged item affects earnings, which is when merchandise is converted to cost of sales, exclusive of depreciation and amortization.

Substantially all of the unrealized gain will be recognized in costs of sales, exclusive of depreciation and amortization, on the Condensed Consolidated Statements of Operations and Comprehensive Income over the next twelve months.

The following table provides additional information pertaining to derivative gains or losses from foreign currency exchange forward contracts not designated as hedging instruments for the thirteen weeks ended May 2, 2026 and May 3, 2025:


	Thirteen Weeks Ended
(in thousands)	May 2, 2026		May 3, 2025
Net (loss) gain, net recognized in other operating (income) loss, net	$	(111)	$	366

ABERCROMBIE & FITCH CO /DE/ 10-Q