Abercrombie & Fitch (ANF) Q2 2026 Earnings
Includes approximately $100 million in pre-tax IEEPA tariff refunds reflected as a reduction of cost of sales, contributing an estimated $1.75 per diluted share benefit (calculated using a 26% tax rate). No excluded items in the current quarter (the prior year quarter included a $38.6 million favorable litigation settlement).
How Did ANF Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: −0.06%.
Did ANF Beat Earnings? Q2 2026 Results
Yes. Abercrombie & Fitch reported Q2 2026 earnings of $4.17 a share on Aug 26, 2026, beating the $1.97 consensus estimate by 111.9%. Revenue was $1.3B against a $1.2B estimate.
Abercrombie & Fitch posted a blowout second quarter of fiscal 2026, with GAAP diluted EPS of $4.17 beating the $1.97 consensus estimate by 111.93%, while net sales climbed 4.8% year over year to $1.27 billion, topping expectations by 1.50%. The standout driver was roughly $100 million in pre-tax IEEPA tariff refunds, recorded as a reduction in cost of sales, which compressed the cost ratio sharply and helped push operating margin to 19.9%, well above the company's own original guidance of around 10%. The GAAP figures include that tariff windfall as a disclosed one-time item alongside the operating performance of the underlying business, and investors responded positively enough that several analysts raised price targets following the report. Looking ahead, Abercrombie raised its full-year fiscal 2026 outlook to net sales growth of approximately 5%, operating margin of 14.5% to 15.0%, and GAAP diluted EPS of $13.10 to $13.60, up from a prior range of $10.20 to $11.00, with the company also expanding its share repurchase target to at least $500 million for the year.
- IEEPA tariff refunds of approximately $100 million in Q2 significantly reduced cost of sales
- Abercrombie brands led growth with 8% net sales increase
- Balanced growth across all three geographic regions
- Accelerating momentum in the Americas and improving trends in EMEA
- APAC surged 19% year-over-year
- Comparable sales flat on constant currency basis
“We delivered record second quarter net sales and our 15th consecutive quarter of growth, reflecting our teams' continued focus on serving customers with compelling product, marketing, and experiences. Growth was balanced across our brands and regions, highlighted by accelerating momentum in the Americas and improving trends in EMEA. Both brands achieved record second quarter net sales, led by 8% growth at Abercrombie brands. We also delivered on the bottom line, with both operating margin and earnings per diluted share above our outlook, in excess of the tariff refunds benefit. Year-to-date, we continued to use our strong balance sheet to invest in the business across stores, digital, technology and marketing, while also repurchasing 7% of shares outstanding as of the beginning of the year.”
Abercrombie & Fitch CEO, on the earnings call
What Is Abercrombie & Fitch's Outlook?
For full-year fiscal 2026, the company now expects: net sales growth of around 5% (up from 3%-5%); operating margin of 14.5%-15.0% (up from 12.0%-12.5%), including approximately 220 bps favorability from IEEPA tariff refunds; effective tax rate of around 29%; diluted EPS of $13.10-$13.60 (up from $10.20-$11.00); share repurchases of at least $500 million (up from ~$450 million); capital expenditures of around $250 million (up from ~$225 million); ~30 net store openings (50 openings, 20 closures) and 80 remodels/right-sizes. For Q3 fiscal 2026: net sales growth of 5%-6%; operating margin of 13.0%-14.0% including ~160 bps IEEPA tariff refund favorability; diluted EPS of $2.90-$3.20; share repurchases of at least $100 million. The outlook assumes an effective 10%-12.5% tariff rate on all goods imported into the U.S. for the remainder of fiscal 2026 (reduced from 15% previously) and estimated full-year IEEPA tariff refunds of $120 million ($2.10 per diluted share impact inclusive of interest).
ANF YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.3B | $1.2B | +4.8% |
| Gross Profit | $900.6M | $721.8M | +24.8% |
| Operating Income | $252.7M | $208.6M | +21.1% |
| Net Income | $183.7M | $141.4M | +29.9% |
ANF Revenue by Segment
ANF Revenue by Geography
When Does Abercrombie & Fitch Report Next?
Figures from SEC filings and company reports. Not investment advice.