Forward P/E valuation for Abercrombie & Fitch using management's fiscal 2026 sales, operating-margin, tax-rate, and diluted-share outlook. The base case uses the midpoint of management's sales-growth and operating-margin ranges and an 11.5x target P/E within the 10x-12x peer range specified in the valuation's monitoring instructions. Bear and bull cases vary both operating execution and the multiple to reflect brand momentum, EMEA demand, tariffs, inventory discipline, and capital-return outcomes.
Fiscal 2026 guidance calls for 3%-5% net sales growth, a 12.0%-12.5% operating margin, an effective tax rate around 30%, about 44 million diluted weighted-average shares, and diluted EPS of $10.20-$11.00. — sec.gov (accessed 2026-08-05)
First-quarter fiscal 2026 net sales were $1.114 billion, operating margin was 8.0%, diluted EPS was $1.47, and 1.2 million shares were repurchased for approximately $105 million. — sec.gov (accessed 2026-08-05)
At May 2, 2026, cash and equivalents were $594 million, marketable securities were $25 million, inventory was $533 million, and 44.43 million shares were outstanding at May 29, 2026. — sec.gov (accessed 2026-08-05)
Fiscal 2025 net sales were $5.266 billion. — sec.gov (accessed 2026-08-05)
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