Property and equipment, net consisted of:
(in thousands)January 31, 2026February 1, 2025
Land$28,599 $28,599 
Buildings239,070 238,131 
Furniture, fixtures and equipment695,651 657,849 
Information technology861,499 796,163 
Leasehold improvements906,791 842,824 
Construction in progress82,995 41,166 
Other1,139 1,139 
Total2,815,744 2,605,871 
Less: Accumulated depreciation(2,141,665)(2,030,098)
Property and equipment, net$674,079 $575,773 
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Historical Timeline

Fiscal YearFiled
2026Mar 26, 2026Showing above
2025Mar 31, 2025
2024Apr 1, 2024
2023Mar 27, 2023
2022Mar 28, 2022
2021Mar 29, 2021
2020Mar 31, 2020
2019Apr 1, 2019
2018Apr 2, 2018
2017Mar 27, 2017
2016Mar 28, 2016

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.