ABERCROMBIE & FITCH CO /DE/
For the period ended Feb 1, 2025. Filed Mar 31, 2025.
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FY2025 · Filed Mar 31, 2025
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PROPERTY AND EQUIPMENT, NET
- PROPERTY AND EQUIPMENT, NET
Property and equipment, net consisted of:
| (in thousands) | February 1, 2025 | February 3, 2024 |
|---|---|---|
| Land | $28,599 | $28,599 |
| Buildings | 238,131 | 238,185 |
| Furniture, fixtures and equipment | 657,849 | 632,056 |
| Information technology | 796,163 | 718,693 |
| Leasehold improvements | 842,824 | 846,097 |
| Construction in progress | 41,166 | 44,359 |
| Other | 1,139 | 1,195 |
| Total | 2,605,871 | 2,509,184 |
| Less: Accumulated depreciation | (2,030,098) | (1,971,151) |
| Property and equipment, net | $575,773 | $538,033 |
Depreciation expense for Fiscal 2024, Fiscal 2023 and Fiscal 2022 was $150.8 million, $138.5 million and $129.7 million, respectively.
Refer to Note 9, “ASSET IMPAIRMENT,” for details related to property and equipment impairment charges incurred during Fiscal 2024, Fiscal 2023 and Fiscal 2022.
Refer to Note 2,“SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and equipment, net,” for discussion regarding significant accounting policies related to the Company’s property and equipment, net.
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