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Segment Reporting
6 Months Ended
Jul. 29, 2023
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company's reportable segments are based on the financial information the chief operating decision maker (“CODM”) uses to allocate resources and assess performance of its business.

During the second quarter of Fiscal 2023, to leverage the knowledge and experience of our regional teams to better drive brand growth, the Company reorganized its structure and now manages its business on a geographic basis, consisting of three reportable segments: Americas; Europe, the Middle East and Africa (EMEA); and Asia-Pacific (APAC). Corporate functions and other income and expenses are evaluated on a consolidated basis and are not allocated to the Company’s segments, and therefore are included as a reconciling item between segment and total operating income (loss). The Americas reportable segment includes the results of operations in North America and South America. The EMEA reportable segment includes the results of operations in Europe, the Middle East and Africa. The APAC reportable segment includes the results of operations in the Asia-Pacific region, including Asia and Oceania. Intersegment sales and transfers are recorded at cost and are treated as a transfer of inventory. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. All prior periods presented are recast to conform to the new segment presentation.

The group comprised of the Company’s (i) Chief Executive Officer and (ii) Chief Financial Officer and Chief Operating Officer functions as the Company’s CODM. The Company’s CODM manages business operations and evaluates the performance of each segment based on the net sales and operating income (loss) of the segment.

Net sales by segment are presented by attributing revenues on the basis of the segment that fulfills the order. Operating income (loss) for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributed to the segment. Corporate/other expenses include expenses incurred that are not directly attributed to a reportable segment and primarily relate to corporate or global functions such as design, sourcing, brand management, corporate strategy, information technology, finance, treasury, legal, human resources, and other corporate support services, as well as certain globally managed components of the planning, merchandising, and marketing functions.

The Company reports inventories by segment as that information is used by the CODM in determining allocation of resources to the segments. The Company does not report its other assets by segment as that information is not used by the CODM in assessing segment performance or allocating resources.

The following tables provide the Company’s segment information as of July 29, 2023 and January 28, 2023, and for the thirteen and twenty-six weeks ended July 29, 2023 and July 30, 2022:
Net Sales
Thirteen Weeks EndedTwenty-Six Weeks Ended
(in thousands)July 29, 2023July 30, 2022July 29, 2023July 30, 2022
Americas$731,427 $613,244 $1,396,850 $1,235,205 
EMEA171,962 164,827 310,068 326,554 
APAC31,956 27,020 64,421 56,094 
Segment total$935,345 $805,091 $1,771,339 $1,617,853 


Operating Income (loss)
Thirteen Weeks EndedTwenty-Six Weeks Ended
(in thousands)July 29, 2023July 30, 2022July 29, 2023July 30, 2022
Americas$177,063 $85,836 $333,508 $172,100 
EMEA29,860 17,545 28,375 26,652 
APAC(464)(6,380)(3,011)(15,485)
Segment total$206,459 $97,001 $358,872 $183,267 
Operating Income (loss) not attributed to Segments:
Stores and distribution expense(3,114)(2,825)(5,003)(4,718)
Marketing, general and administrative expense(116,198)(95,388)(235,603)(193,361)
Other operating loss (income), net2,695 (979)5,584 2,895 
Total operating income (loss)$89,842 $(2,191)$123,850 $(11,917)
Assets
(in thousands)July 29, 2023January 28, 2023
Inventories
Americas$403,469 $404,040 
EMEA72,827 80,447 
APAC17,183 21,134 
Total inventories$493,479 $505,621 
Assets not attributed to Segments2,303,235 2,207,479 
Total assets$2,796,714 $2,713,100 

Brand Information

The following table provides additional disaggregated revenue information, which is categorized by brand, for the thirteen and twenty-six weeks ended July 29, 2023 and July 30, 2022:
Thirteen Weeks EndedTwenty-Six Weeks Ended
(in thousands)July 29, 2023July 30, 2022July 29, 2023July 30, 2022
Abercrombie462,711 368,157 $898,755 $752,113 
Hollister$472,634 $436,934 $872,584 $865,740 
Total$935,345 $805,091 $1,771,339 $1,617,853