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SEGMENT REPORTING
 12 Months Ended
Feb. 03, 2024
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 February 3, 2024 and January 28, 2023, and for Fiscal 2023, Fiscal 2022 and Fiscal 2021.

(in thousands)Fiscal 2023Fiscal 2022Fiscal 2021
Net sales
Americas (1)
$3,455,674 $2,920,157 $2,803,791 
EMEA687,095 658,794 747,356 
APAC137,908 118,800 161,621 
Total$4,280,677 $3,697,751 $3,712,768 
(1) Includes the U.S., Canada, and Latin America. Net sales in the U.S. were $3.3 billion, $2.8 billion, and $2.7 billion in Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively.
(in thousands)Fiscal 2023Fiscal 2022Fiscal 2021
Depreciation and amortization
Americas$73,779 $75,231 $79,189 
EMEA26,782 21,497 23,276 
APAC5,921 8,123 10,892 
Segment total$106,482 $104,851 $113,357 
Depreciation and amortization not attributed to Segments
34,622 27,392 30,678 
Total depreciation and amortization
$141,104 $132,243 $144,035 
Capital expenditures
Americas$78,062 $102,030 $40,774 
EMEA26,019 32,206 20,727 
APAC4,331 1,249 6,210 
Segment total$108,412 $135,485 $67,711 
Capital expenditures not attributed to Segments
49,385 29,081 29,268 
Total capital expenditures
$157,797 $164,566 $96,979 
Operating Income
Americas$940,292 $483,445 $637,308 
EMEA81,216 45,185 118,235 
APAC(10,558)(29,107)(20,240)
Segment total$1,010,950 $499,523 $735,303 
Operating (loss) income not attributed to Segments:
Stores and distribution expense(12,066)(9,051)(5,880)
Marketing, general and administrative expense(520,082)(400,508)(403,622)
Other operating (loss) income, net5,869 2,684 17,283 
Total operating income$484,671 $92,648 $343,084 

(in thousands)February 03, 2024January 28, 2023
Assets
Inventories
Americas$372,371 $404,040 
EMEA77,125 80,447 
APAC19,970 21,134 
Total inventories$469,466 $505,621 
Assets not attributed to Segments2,504,767 2,207,479 
Total assets$2,974,233 $2,713,100 

The Company’s long-lived assets and intellectual property, which primarily relates to trademark assets associated with the Company’s global operations, by geographic area as of February 3, 2024 and January 28, 2023 were as follows:
(in thousands)February 3, 2024January 28, 2023
Americas (1) (2)
$897,315 $929,381 
EMEA (3)
288,967 317,712 
APAC50,324 49,771 
Total$1,236,606 $1,296,864 
(1)    Includes the U.S., Canada, and Latin America. Long-lived assets and intellectual property located in the U.S. were $880 million and $911 million as of February 3, 2024 and January 28, 2023, respectively.
(2)Includes intellectual property of $2.9 million and $3.4 million at February 3, 2024 and January 28, 2023, respectively.
(3)Includes intellectual property of $17.4 million and $18.3 million at February 3, 2024 and January 28, 2023, respectively.
Brand Information

The following table provides additional disaggregated revenue information, which is categorized by brand, for Fiscal 2023, Fiscal 2022 and Fiscal 2021 were as follows:
(in thousands)Fiscal 2023Fiscal 2022Fiscal 2021
Abercrombie (1)
$2,201,686 $1,734,866 $1,564,789 
Hollister (2)
2,078,991 1,962,885 2,147,979 
Total$4,280,677 $3,697,751 $3,712,768 
(1)Abercrombie brands includes Abercrombie & Fitch and abercrombie kids.
(2)Hollister brands includes Hollister and Gilly Hicks