AMERICAN EAGLE OUTFITTERS INC, 10-K filed on 3/30/2026
Annual Report
v3.26.1
Document and Entity Information - USD ($)
 12 Months Ended
Jan. 31, 2026
Mar. 30, 2026
Aug. 02, 2025
Cover [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Jan. 31, 2026    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Trading Symbol AEO    
Entity Registrant Name AMERICAN EAGLE OUTFITTERS, INC.    
Entity Central Index Key 0000919012    
Current Fiscal Year End Date --01-31    
Entity Well-known Seasoned Issuer Yes    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Filer Category Large Accelerated Filer    
Entity Shell Company false    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Common Stock, Shares Outstanding   166,674,664  
Entity Public Float     $ 1,659,429,666
Entity Interactive Data Current Yes    
Title of 12(b) Security Common Stock, $0.01 par value    
Security Exchange Name NYSE    
Entity File Number 1-33338    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 13-2721761    
Entity Address, Address Line One 77 Hot Metal Street    
Entity Address, City or Town Pittsburgh    
Entity Address, State or Province PA    
Entity Address, Postal Zip Code 15203-2329    
City Area Code 412    
Local Phone Number 432-3300    
Document Annual Report true    
Document Transition Report false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Documents Incorporated by Reference

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Company’s definitive proxy statement for the 2026 Annual Meeting of Stockholders are incorporated by reference into Part III herein of this Annual Report on Form 10-K. The registrant expects to file such definitive proxy statement with the Securities and Exchange Commission within 120 days of its fiscal year ended January 31, 2026.

    
Auditor Name Ernst & Young LLP    
Auditor Firm ID 42    
Auditor Location Pittsburgh, Pennsylvania    
Auditor Opinion

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of American Eagle Outfitters, Inc. (the Company) as of January 31, 2026 and February 1, 2025, the related consolidated statements of operations, comprehensive income, stockholders’ equity and cash flows for each of the three years in the period ended January 31, 2026, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at January 31, 2026 and February 1, 2025, and the results of its operations and its cash flows for each of the three years in the period ended January 31, 2026, in conformity with U.S. generally accepted accounting principles.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of January 31, 2026, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) and our report dated March 30, 2026 expressed an unqualified opinion thereon.

    
v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jan. 31, 2026
Feb. 01, 2025
Current assets:    
Cash and cash equivalents $ 238,923 $ 308,962
Short-term investments   50,000
Merchandise inventory 701,966 636,655
Accounts receivable, net 258,624 262,365
Prepaid expenses 93,231 76,088
Other current assets 21,429 20,161
Total current assets 1,314,173 1,354,231
Operating lease right-of-use assets 1,450,592 1,295,400
Property and equipment, at cost, net of accumulated depreciation 785,622 751,264
Goodwill, net 225,269 225,079 [1]
Non-current deferred income taxes 85,532 68,158
Intangible assets, net 37,468 42,449
Other assets 111,024 94,194
Total assets 4,009,680 3,830,775
Current liabilities:    
Accounts payable 251,761 280,712
Current portion of operating lease liabilities 320,005 313,034
Accrued compensation and payroll taxes 82,354 113,388
Unredeemed gift cards and gift certificates 75,278 70,094
Accrued income and other taxes 41,290 30,677
Other current liabilities and accrued expenses 96,875 74,751
Total current liabilities 867,563 882,656
Non-current liabilities:    
Non-current operating lease liabilities 1,380,318 1,133,296
Other non-current liabilities 70,365 47,963
Total non-current liabilities 1,450,683 1,181,259
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value; 5,000 shares authorized; none issued and outstanding
Common stock, $0.01 par value; 600,000 shares authorized; 249,566 shares issued; 168,958 and 188,618 shares outstanding, respectively 2,496 2,496
Contributed capital 382,676 362,616
Accumulated other comprehensive loss (15,586) (56,390)
Retained earnings 2,552,721 2,456,063
Treasury stock, 80,608 and 60,948 shares, respectively, at cost (1,229,154) (1,001,154)
Total AEO stockholders' equity 1,693,153 1,763,631
Noncontrolling interests (1,719) 3,229
Total stockholders' equity 1,691,434 1,766,860
Total liabilities and stockholders’ equity $ 4,009,680 $ 3,830,775
[1] Beginning balances include accumulated impairment of $43.8 million for both January 31, 2026 and February 1, 2025.
v3.26.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Statement of Financial Position [Abstract]      
Preferred stock, par value $ 0.01 $ 0.01 $ 0.01
Preferred stock, shares authorized 5,000,000 5,000,000 5,000,000
Preferred stock, issued 0 0 0
Preferred stock, outstanding 0 0 0
Common stock, par value $ 0.01 $ 0.01 $ 0.01
Common stock, shares authorized 600,000,000 600,000,000 600,000,000
Common stock, shares issued 249,566,000 249,566,000 249,566,000
Common stock, shares outstanding 168,958,000 188,618,000 196,936,000
Treasury stock, shares 80,608,000 60,948,000 52,630,000
v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Income Statement [Abstract]      
Total net revenue $ 5,547,236 $ 5,328,652 $ 5,261,770
Cost of sales, including certain buying, occupancy and warehousing expenses 3,521,915 3,239,719 3,237,192
Gross profit 2,025,321 2,088,933 2,024,578
Selling, general and administrative expenses 1,485,535 1,431,814 1,433,300
Impairment, restructuring and other charges 101,603 17,561 141,695
Depreciation and amortization expense 211,961 212,255 226,866
Operating income 226,222 427,303 222,717
Interest expense (income), net 4,112 (7,769) (6,190)
Other (income), net (27,278) (4,685) (10,009)
Income before income taxes 249,388 439,757 238,916
Provision for income taxes 63,866 112,854 69,820
Net income 185,522 326,903 169,096
Net loss attributable to noncontrolling interests 6,461 2,477 942
Net income attributable to AEO $ 191,983 $ 329,380 $ 170,038
Basic net income per common share attributable to AEO $ 1.12 $ 1.71 $ 0.87
Diluted net income per common share attributable to AEO $ 1.09 $ 1.68 $ 0.86
Weighted average common shares outstanding - basic 172,165 193,056 195,646
Weighted average common shares outstanding - diluted 176,141 196,412 196,863
v3.26.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Statement of Comprehensive Income [Abstract]      
Net income $ 185,522 $ 326,903 $ 169,096
Other comprehensive gain (loss)      
Foreign currency translation gain (loss) 40,804 (39,980) 16,220
Other comprehensive gain (loss) 40,804 (39,980) 16,220
Comprehensive income 226,326 286,923 185,316
Less: Comprehensive loss attributable to non-controlling interests 6,461 2,477 942
Comprehensive income attributable to AEO $ 232,787 $ 289,400 $ 186,258
v3.26.1
Consolidated Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Non-controlling Interest
Contributed Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive (Loss)
Beginning Balance at Jan. 28, 2023 $ 1,599,163 $ 2,496 $ 2,314 $ 339,461 $ 2,137,126 $ (849,604) $ (32,630)
Beginning Balance (in shares) at Jan. 28, 2023   195,064          
Stock awards 50,445     50,445      
Repurchase of common stock as part of publicly announced programs (20,261)         (20,261)  
Repurchase of common stock as part of publicly announced programs (in shares)   (1,000)          
Repurchase of common stock from employees (10,666)         (10,666)  
Repurchase of common stock from employees (in shares)   (766)          
Reissuance of treasury stock $ 6,585     (28,038) (4,936) 39,559  
Reissuance of treasury stock (in shares) 2,539 2,539          
Redemption of Convertible Senior Notes $ 8,690     (6,281) (2,137) 17,108  
Redemption/Exchange of Convertible Senior Notes (in shares)   1,099          
Net income 169,096   (942)   170,038    
Other comprehensive income 16,220           16,220
Cash dividends and dividend equivalents (83,825)     2,107 (85,932)    
Contributions from non-controlling interests 1,312   1,312        
Ending Balance at Feb. 03, 2024 $ 1,736,759 $ 2,496 2,684 357,694 2,214,159 (823,864) (16,410)
Ending Balance (in shares) at Feb. 03, 2024 196,936 196,936          
Stock awards $ 39,006     39,006      
Repurchase of common stock as part of publicly announced programs (190,912)         (190,912)  
Repurchase of common stock as part of publicly announced programs (in shares)   (9,500)          
Repurchase of common stock from employees (13,769)         (13,769)  
Repurchase of common stock from employees (in shares)   (557)          
Reissuance of treasury stock $ 2,286     (36,434) 11,329 27,391  
Reissuance of treasury stock (in shares) 1,739 1,739          
Net income $ 326,903   (2,477)   329,380    
Other comprehensive income (39,980)           (39,980)
Cash dividends and dividend equivalents (96,455)     2,350 (98,805)    
Contributions from non-controlling interests 3,022   3,022        
Ending Balance at Feb. 01, 2025 $ 1,766,860 $ 2,496 3,229 362,616 2,456,063 (1,001,154) (56,390)
Ending Balance (in shares) at Feb. 01, 2025 188,618 188,618          
Stock awards $ 38,766     38,766      
Repurchase of common stock as part of publicly announced programs (56,905)         (56,905)  
Repurchase of common stock as part of publicly announced programs (in shares)   (3,000)          
Repurchase of common stock from employees (7,946)         (7,946)  
Repurchase of common stock from employees (in shares)   (658)          
Accelerated share repurchase, including excise tax (201,849)         (201,849)  
Accelerated share repurchase, including excise tax (in shares)   (18,416)          
Reissuance of treasury stock $ 9,926     (21,458) (7,316) 38,700  
Reissuance of treasury stock (in shares) 2,414 2,414          
Net income $ 185,522   (6,461)   191,983    
Other comprehensive income 40,804           40,804
Cash dividends and dividend equivalents (85,257)     2,752 (88,009)    
Contributions from non-controlling interests 1,513   1,513        
Ending Balance at Jan. 31, 2026 $ 1,691,434 $ 2,496 $ (1,719) $ 382,676 $ 2,552,721 $ (1,229,154) $ (15,586)
Ending Balance (in shares) at Jan. 31, 2026 168,958 168,958          
v3.26.1
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Statement of Stockholders' Equity [Abstract]      
Cash dividends and dividend equivalents, Per share $ 0.5 $ 0.5 $ 0.425
Common stock, shares authorized 600,000,000 600,000,000 600,000,000
Common stock, shares issued 249,566,000 249,566,000 249,566,000
Common stock, shares outstanding 168,958,000 188,618,000 196,936,000
Common stock, par value $ 0.01 $ 0.01 $ 0.01
Preferred stock, shares authorized 5,000,000 5,000,000 5,000,000
Preferred stock, shares issued 0 0 0
Preferred stock, shares outstanding 0 0 0
Preferred stock, par value $ 0.01 $ 0.01 $ 0.01
Treasury stock, shares 80,608,000 60,948,000 52,630,000
Reissuance of treasury stock, shares 2,414,000 1,739,000 2,539,000
v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Operating activities:      
Net income $ 185,522 $ 326,903 $ 169,096
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 222,180 220,525 235,213
Share-based compensation 39,416 39,606 51,067
Deferred income taxes (12,831) 9,748 (43,456)
Impairment of assets 86,581 6,353 116,365
Distribution received from equity method investment 20,853    
Income earned from equity method investment (26,175)    
Other operating activities (2,920)    
Changes in assets and liabilities:      
Accounts receivable (9,891) (15,629) (5,820)
Merchandise inventory (46,369) (21,363) (46,304)
Operating lease assets 388,510 251,204 230,659
Operating lease liabilities (323,524) (280,036) (326,571)
Other assets (29,363) (30,354) 17,473
Accounts payable (30,304) 15,907 33,432
Accrued compensation and payroll taxes (32,095) (38,050) 100,223
Accrued and other liabilities 26,592 (8,016) 49,333
Net cash provided by operating activities 456,182 476,798 580,710
Investing activities:      
Capital expenditures for property and equipment (260,795) (222,538) (174,437)
Sale of available-for-sale investments 50,000 100,000  
Purchase of available-for-sale investments   (50,000) (100,000)
Purchase of equity method investment   (35,000)  
Other investing activities 8,145 (9,972) (12,995)
Net cash (used for) investing activities (202,650) (217,510) (287,432)
Financing activities:      
Accelerated share repurchase (201,849)    
Repurchase of common stock as part of publicly announced programs (56,905) (190,912) (10,666)
Repurchase of common stock from employees (7,946) (13,769) (20,261)
Proceeds from revolving line of credit 841,700   30,000
Principal payments on revolving line of credit (841,700)   (30,000)
Net proceeds from stock options exercised 9,307 3,841 7,646
Cash dividends paid (85,257) (96,455) (83,825)
Proceeds from other financing 18,603    
Other financing activities (2,803) (4,614) (2,368)
Net cash (used for) financing activities (326,850) (301,909) (109,474)
Effect of exchange rates on cash 3,279 (2,511) 81
Net change in cash and cash equivalents (70,039) (45,132) 183,885
Cash and cash equivalents - beginning of period 308,962 354,094 170,209
Cash and cash equivalents - end of period $ 238,923 $ 308,962 $ 354,094
v3.26.1
Cybersecurity Risk Management, Strategy and Governance
 12 Months Ended
Jan. 31, 2026
Cybersecurity Risk Management, Strategy, and Governance [Abstract]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Risk Management and Strategy

The Board as a whole has the responsibility for the Company’s risk oversight and management, which includes a focus on cybersecurity risks. To oversee cybersecurity risk at the management level, we employ a Chief Information Security Officer ("CISO") whose team is responsible for leading our company-wide cybersecurity strategies, policies, standards, architectures, operations, and processes. We have an established an Information Security Program, which is integrated into our overall enterprise risk management system and processes, to assess, identify, and manage material risks from cybersecurity threats. This program is based and built upon, informed by and responsive to industry best practice frameworks such as ISO, NIST, and the Payment Card Industry Data Security Standard. Our program undergoes an internal annual review, conducted by our CISO and internal auditors, as well as third party external review. Additionally, we are a member of an industry cybersecurity intelligence and risk-sharing organization, which enables us to stay informed about developments, trends, and risks in the cybersecurity threat landscape.

As an important component of our overall cybersecurity strategy, we leverage a diverse array of third-party cybersecurity vendors and security firms in different capacities to assess or supplement various aspects of our Information Security Program. Such third parties include cybersecurity monitoring and alerting, penetration testing along with designated external experts (including but not limited to cybersecurity breach counsel, experts in incident response, cyber forensics, and threat intelligence). Additionally, we collaborate with various cybersecurity vendors to conduct regular tabletop exercises and trainings to help fortify our Information Security Program. To elevate cybersecurity education, we supplement internal training with third-party cybersecurity vendors, providing annual security awareness training, phishing exercises, and ongoing security refreshers and reminders throughout the year.

The vendor risk management program is built upon, informed by and responsive to industry best practices, incorporating methodologies such as Standardized Information Gathering (SIG), third-party cyber/privacy attestations (e.g., Systems and Organization Controls (SOC), ISO 27001, and HITRUST), penetration tests conducted by independent security professionals, and integrating appropriate cybersecurity language into legal contracts. This program is designed to conduct appropriate due diligence upon onboarding third-party vendors.

Board Governance and Management

The CISO and designated direct reports meet on a regular basis to discuss pertinent risks, mitigation factors, remediation status, and risk acceptance. Our CISO also serves as our Vice President of Information Security, Disaster Recovery, and Asset Management. He has decades of experience across information technology, information security, and disaster recovery and has received relevant certifications including Certified Information System Auditor (CISA), GIAC Certified Intrusion Analyst (GCIA), GIAC Certified Incident Handler (GCIH), and GIAC Certified Forensic Analyst (GCFA).

Our CISO helps ensure the confidentiality, integrity, and availability of information that we possess through our Cyber Incident Response Plan (“CIRP”). We have assembled a cross-functional Incident Response Team with representation from a multitude of internal teams along with third-party experts to support all aspects of incident response, recovery, and reporting. The CIRP outlines processes to evaluate and respond to various cybersecurity threats, assess the severity of potential and actual incidents and their impacts, and procedures around who should be notified and involved in the Company’s responses thereto. For example, cybersecurity incidents that surpass a certain level of severity typically require updates to executive leadership and our Board. The CIRP is reviewed on a regular basis including by industry-leading incident response providers, internal/external auditors, and others. The CIRP is tested regularly through tabletop exercises facilitated by an outside expert. These proactive exercises are intended to help refine and optimize our incident response capabilities and minimize the impact of any cybersecurity incident.


Additionally, we have established a Cyber Incident Materiality Assessment Committee ("C-MAC") that is primarily responsible for conducting a materiality assessment of cybersecurity incidents and determining whether it is material for disclosure and reporting purposes in accordance with applicable rules and regulations. This assessment and determination are separate and distinct from evaluating the cyber severity of an incident, which remains within the purview of the CIRP. The C-MAC is composed of various cross-functional senior members of management, including our Chief Financial Officer, Chief Accounting Officer, Chief Supply Chain, Technology and International Officer, Chief Legal Officer, Chief Technology Officer, CISO, Senior Vice President of Corporate Communications and Investor Relations, Vice President of Internal Audit and certain key outside advisors. The C-MAC will coordinate with our Disclosure Committee in connection with any requisite disclosures.

The Board's Audit Committee receives regular reports from the CISO on pertinent cyber risks exposures, the status of projects designed to fortify our Information Security Program, metrics on the effectiveness of this program, and the emerging threats in this area. Cyber insurance coverage is reviewed annually with the Audit Committee, as part of our overall risk management process. Furthermore, on a regular basis, the CISO provides pertinent cybersecurity risk exposures and updates along with various other business units as part of the enterprise risk management report to the Audit Committee. The Audit Committee is responsible for the review and assessment of cybersecurity risk exposures and the steps taken to monitor and control those exposures. Our senior officers have ongoing engagement with the Audit Committee on cybersecurity issues.


Although the risks from cybersecurity threats have not materially affected our business strategy, results of operations, or financial condition to date, they may in the future, and we continue to closely monitor cyber risk. Overall, the Company has implemented tactical processes for assessing, identifying, and managing material risks from cybersecurity threats to the Company, including governance at the Board level and accountability in our executive management for the execution of our cyber risk management strategy and the controls designed to protect our operations. See "Risk Factors—Operational Risks" in Part I, Item 1A of this Annual Report, which should be read in conjunction with this Item 1C, for additional information regarding the Company’s cybersecurity risks.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We have an established an Information Security Program, which is integrated into our overall enterprise risk management system and processes, to assess, identify, and manage material risks from cybersecurity threats.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

The Board as a whole has the responsibility for the Company’s risk oversight and management, which includes a focus on cybersecurity risks. To oversee cybersecurity risk at the management level, we employ a Chief Information Security Officer ("CISO") whose team is responsible for leading our company-wide cybersecurity strategies, policies, standards, architectures, operations, and processes. We have an established an Information Security Program, which is integrated into our overall enterprise risk management system and processes, to assess, identify, and manage material risks from cybersecurity threats. This program is based and built upon, informed by and responsive to industry best practice frameworks such as ISO, NIST, and the Payment Card Industry Data Security Standard. Our program undergoes an internal annual review, conducted by our CISO and internal auditors, as well as third party external review. Additionally, we are a member of an industry cybersecurity intelligence and risk-sharing organization, which enables us to stay informed about developments, trends, and risks in the cybersecurity threat landscape.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board's Audit Committee receives regular reports from the CISO on pertinent cyber risks exposures, the status of projects designed to fortify our Information Security Program, metrics on the effectiveness of this program, and the emerging threats in this area. Cyber insurance coverage is reviewed annually with the Audit Committee, as part of our overall risk management process.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Overall, the Company has implemented tactical processes for assessing, identifying, and managing material risks from cybersecurity threats to the Company, including governance at the Board level and accountability in our executive management for the execution of our cyber risk management strategy and the controls designed to protect our operations.
Cybersecurity Risk Role of Management [Text Block] The CISO and designated direct reports meet on a regular basis to discuss pertinent risks, mitigation factors, remediation status, and risk acceptance.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The CISO and designated direct reports meet on a regular basis to discuss pertinent risks, mitigation factors, remediation status, and risk acceptance. Our CISO also serves as our Vice President of Information Security, Disaster Recovery, and Asset Management. He has decades of experience across information technology, information security, and disaster recovery and has received relevant certifications including Certified Information System Auditor (CISA), GIAC Certified Intrusion Analyst (GCIA), GIAC Certified Incident Handler (GCIH), and GIAC Certified Forensic Analyst (GCFA).
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CISO also serves as our Vice President of Information Security, Disaster Recovery, and Asset Management. He has decades of experience across information technology, information security, and disaster recovery and has received relevant certifications including Certified Information System Auditor (CISA), GIAC Certified Intrusion Analyst (GCIA), GIAC Certified Incident Handler (GCIH), and GIAC Certified Forensic Analyst (GCFA).
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Board's Audit Committee receives regular reports from the CISO on pertinent cyber risks exposures, the status of projects designed to fortify our Information Security Program, metrics on the effectiveness of this program, and the emerging threats in this area.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.26.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Pay vs Performance Disclosure      
Net Income (Loss) $ 191,983 $ 329,380 $ 170,038
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Jan. 31, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rule 10b5-1 Arr Modified [Flag] false
Non-Rule 10b5-1 Arr Modified [Flag] false
v3.26.1
Insider Trading Policies and Procedures
 12 Months Ended
Jan. 31, 2026
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.26.1
Business Operations
 12 Months Ended
Jan. 31, 2026
Accounting Policies [Abstract]  
Business Operations

1. Business Operations

American Eagle Outfitters, Inc. (the "Company," "we" and "our"), a Delaware corporation, operates under the American Eagle® ("AE") and Aerie® brands. We also operate Todd Snyder New York ("Todd Snyder"), a premium menswear brand, and Unsubscribed, which focuses on consciously-made slow fashion.

Founded in 1977, the Company is a leading multi-brand specialty retailer that operates nearly 1,500 retail stores in the U.S. and internationally, online through our digital channels at www.ae.com and www.aerie.com, www.toddsnyder.com, www.unsubscribed.wcom and more than 300 international store locations managed by third-party operators. Through its portfolio of brands, the Company offers high quality, on-trend clothing, accessories, and personal care products at affordable prices. The Company’s online business, AEO Direct, ships to approximately 90 countries worldwide.

AEO Direct reinforces each particular brand platform and is designed to complement the in-store experience. We offer the ability for customers to return products seamlessly via any channel regardless of where products were originally purchased. We also offer a variety of channels to fulfill customer orders. These include "ship to home," which can be fulfilled either through our distribution centers or our store sites (buy online, ship from stores) when purchased online or through our app; and "store pick-up," which consists of online orders being fulfilled either in store or curbside, and we offer "store-to-door" capability where customers order within our store, and the goods are shipped directly to their home.

v3.26.1
Summary of Significant Accounting Policies
 12 Months Ended
Jan. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Principles of Consolidation

The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries and consolidated entities where the Company's ownership percentage is less than 100%.

Non-controlling interests’ (“NCI”) share of net income (loss) is presented as net income (loss) attributable to NCI on the Consolidated Statements of Operations and Comprehensive Income and the NCI share of stockholders' equity is presented as a component of Total stockholders' equity on the Consolidated Balance Sheets.

Certain prior‑period amounts have been reclassified to conform to the current‑period presentation, including the separate presentation of noncontrolling interests. These reclassifications had no impact on the Company’s operating income, net income attributable to noncontrolling interests, net income per common share attributable to AEO or cash flows.

All intercompany transactions and balances have been eliminated in consolidation. At January 31, 2026, the Company operated in two reportable segments, American Eagle and Aerie.

Fiscal Year

Our fiscal year is a 52- or 53-week year that ends on the Saturday nearest to January 31. As used herein, "Fiscal 2028" refers to the 53-week period that will end on February 3, 2029. "Fiscal 2027" refers to the 52-week period that will end on January 29, 2028. "Fiscal 2026" refers to the 52-week period that will end on January 30, 2027. "Fiscal 2025" refers to the 52-week period ended on January 31, 2026. "Fiscal 2024" refers to the 52-week period ended February 1, 2025. "Fiscal 2023" refers to the 53-week period ended February 3, 2024.

Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. of America ("GAAP") requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, our management reviews its estimates based on currently available information. Changes in facts and circumstances may result in revised estimates.

 

Recent Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Improvements to Income Tax Disclosures ("ASU 2023-09"), which requires increased transparency in tax disclosures, specifically by expanding requirements for rate reconciliation and income taxes paid information. Additionally, the amendment requires disclosures of income/(loss) from continuing operations before taxes disaggregated between domestic and foreign, and income tax expense/(benefit), disaggregated by federal, state, and foreign. Disclosure requirements about the nature and estimated range of the reasonably possible change in unrecognized tax benefits over the next year have been removed as part of this amendment. The guidance is effective for fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-09 prospectively effective for Fiscal 2025.

Refer to Note 13, Income Taxes, to the Consolidated Financial Statements for additional information regarding Income Taxes.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses ("ASU 2024-03"), which requires disclosure of additional information for specific expense categories in the notes to financial statements for interim and annual periods. Specifically, the amendment requires quantitative disclosure for purchases of inventory, employee compensation, depreciation, and intangible asset amortization within an expense caption. For any remaining amounts within an expense caption, a qualitative description must be included. In all reporting periods, a total selling expense amount must be disclosed, with an annual disclosure of the entity's definition of selling expenses. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company plans to adopt ASU 2024-03 effective for Fiscal 2027.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses ("ASU 2025-05"), which amends the guidance under Topic 326. This amendment provides the option to use a practical expedient to assume balance sheet conditions remain unchanged when developing forecasts for estimating expected credit losses. The guidance is effective for fiscal years beginning after December 15, 2025. The Company plans to adopt ASU 2025-05 effective for Fiscal 2026 and does not expect a material impact to the Consolidated Financial Statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"). The new guidance modernizes accounting for the costs of internal-use software by removing "project stages" from the capitalization process. The guidance is effective for annual periods beginning after December 15, 2027 and interim periods within those years. Early adoption is permitted. The Company plans to adopt ASU 2025-06 effective for Fiscal 2028.

In September 2025, the FASB issued ASU 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606) ("ASU 2025-07"). This amendment clarifies the scope of derivative accounting to exclude nonexchange-traded contracts. The guidance is effective for annual periods beginning after December 15, 2027 and interim periods within those years. Transition may be applied prospectively, or under a modified retrospective approach. The Company plans to early adopt ASU 2025-07 effective for Fiscal 2026, using the modified retrospective approach, and does not expect a material impact to the Consolidated Financial Statements.

Foreign Currency Translation

In accordance with Accounting Standard Codification ("ASC") 830, Foreign Currency Matters, the Company translates assets and liabilities denominated in foreign currencies into U.S. dollars ("USD") (the reporting currency) at the exchange rates prevailing at the balance sheet date. The Company translates revenues and expenses denominated in foreign currencies into USD at the monthly average exchange rates for the period. Gains or losses resulting from foreign currency transactions are included in the consolidated results of operations, whereas related translation adjustments are reported as an element of other comprehensive income (loss) in accordance with ASC 220, Comprehensive Income. Refer to Note 10, Accumulated Other Comprehensive Loss, to the Consolidated Financial Statements for information regarding accumulated other comprehensive income (loss).

Cash and Cash Equivalents and Short-term Investments

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Short-term investments classified as available-for-sale include certificates of deposit with an original maturity greater than three months, but less than one year.

Refer to Note 3, Cash and Cash Equivalents and Short-term Investments, to the Consolidated Financial Statements for information regarding cash and cash equivalents, and short-term investments.

Accounts Receivable

The Company's receivables are primarily generated from product sales and royalties from our licensees. Receivables also include amounts due from landlords, including construction allowance and lease incentive receivables, vendors, and governmental authorities, as well as amounts for sell-offs of past season merchandise. The primary indicators of the credit quality of our receivables are aging, payment history, economic sector information and outside credit monitoring, and are assessed on a quarterly basis. Our credit loss exposure is mainly concentrated in our accounts receivable portfolio.

Our allowance for credit losses is calculated using a loss-rate method based on historical experience, current market conditions and reasonable forecasts. For Fiscal 2025, the increase to our reserve primarily related to the deterioration of credit quality for a specific customer.

A rollforward of the activity in the Company's allowance for doubtful accounts is presented below:

 

 

 

Fiscal Years Ending

 

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

 

Beginning balance

 

$

8,879

 

 

$

12,707

 

 

$

2,133

 

 

Amount recorded to expense to increase reserve

 

 

17,284

 

 

 

750

 

 

 

11,944

 

 

Amount written-off against customer accounts to decrease reserve

 

 

(631

)

 

 

(4,578

)

 

 

(1,371

)

 

Ending balance

 

$

25,532

 

 

$

8,879

 

 

$

12,707

 

 

Merchandise Inventory

Merchandise inventory is valued at the lower of average cost or net realizable value, utilizing the retail method. Average cost includes merchandise design and sourcing costs and related expenses. The Company records merchandise receipts when control of the merchandise has transferred to the Company.

The Company reviews its inventory levels to identify slow-moving merchandise and generally uses markdowns to clear merchandise. Additionally, the Company estimates a markdown reserve for future planned permanent markdowns related to current inventory. Markdowns may occur when inventory exceeds customer demand for reasons of style, seasonal adaptation, changes in customer preference, lack of consumer acceptance of fashion items, or competition, or if it is determined that the inventory in stock will not sell at its currently ticketed price. Such markdowns may have a material adverse impact on earnings, depending on the extent and amount of inventory affected.

The Company also estimates a shrinkage reserve for the period between the last physical count and the balance sheet date. The estimate for the shrinkage reserve, based on historical results, can be affected by changes in merchandise mix and changes in actual shrinkage trends.

Property and Equipment

Property and equipment, including assets acquired with finance leases, are recorded on the basis of cost with depreciation computed utilizing the straight-line method over the assets’ estimated useful lives. The useful lives of our major classes of assets are as follows:

 

Buildings

25 years

Leasehold improvements

Lesser of 10 years or the term of the lease

Fixtures and equipment

Five years

Information technology

Three to five years

 

As of January 31, 2026, the weighted average remaining useful life of our assets was approximately six years.

In accordance with ASC 360, Property, Plant, and Equipment ("ASC 360"), the Company’s management evaluates the value of leasehold improvements, store fixtures, and operating lease right-of-use ("ROU") assets associated with retail stores. The Company evaluates long-lived assets for impairment at the individual store level, which is the lowest level at which individual cash flows can be identified. Impairment losses are recorded on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the projected undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts. When events such as these occur, the impaired assets are adjusted to their estimated fair value and an impairment loss is recorded separately as a component of operating income within impairment, restructuring, and other charges in the Consolidated Statements of Operations.

Our impairment loss calculations require management to make assumptions and to apply judgment to estimate future cash flows and asset fair values. The significant assumptions used in our fair value analysis are forecasted revenue and market rent. We do not believe there is a reasonable likelihood that there will be a material change in the estimates or assumptions we use to calculate long-lived asset impairment losses. However, if actual results are not consistent with our estimates and assumptions, our consolidated operating results could be adversely affected.

When the Company closes, remodels, or relocates a store prior to the end of its lease term, the remaining net book value of the assets related to the store is recorded as a write-off of assets within depreciation and amortization expense.

Refer to Note 6, Property and Equipment, Net, to the Consolidated Financial Statements for additional information regarding property and equipment, and refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information regarding impairment charges for Fiscal 2025, Fiscal 2024, and Fiscal 2023.

Goodwill and Intangible Assets

The Company’s goodwill is primarily related to the acquisitions of its regionalized fulfillment center network, as well as its importing operations and Canadian business, and represents the excess of cost over fair value of net assets of businesses acquired. In accordance with ASC 350, Intangibles – Goodwill and Other, the Company evaluates goodwill for possible impairment at least annually as of the last day of the fiscal year and upon occurrence of certain triggering events or substantive changes in circumstances that indicate that the fair value of a reporting unit may be below its carrying value. If the carrying value of the reporting unit exceeds the fair value, an impairment charge is recorded in the period of the evaluation based on that difference. The Company last performed an annual goodwill impairment test as of January 31, 2026. No indicators of impairment were present during Fiscal 2025 or Fiscal 2024. In Fiscal 2023, the Company concluded that the goodwill assigned to the Quiet Platforms reporting unit was impaired, resulting in a charge of $39.6 million recorded within impairment, restructuring and other charges on the Consolidated Statements of Operations, due to insufficient prospective cash flows to support the carrying value of the business. Significant, subjective assumptions used in the Company's fair value estimate included forecasted cost of sales, forecasted operating expense and discount rate.

Definite-lived intangible assets are initially recorded at fair value, with amortization computed utilizing the straight-line method over the assets’ estimated useful lives. The Company’s definite-lived intangible assets, which consist primarily of trademark assets, are generally amortized over 10 to 15 years.

The Company evaluates definite-lived intangible assets for impairment in accordance with ASC 360 when events or circumstances indicate that the carrying value of the asset may not be recoverable. Such an evaluation includes the estimation of undiscounted future cash flows to be generated by those assets. If the sum of the estimated future undiscounted cash flows is less than the carrying amounts of the assets, then the assets are impaired and are adjusted to their estimated fair value. During Fiscal 2025 and Fiscal 2023, the Company recorded a $1.3 million and $40.5 million impairment charge, respectively, within impairment, restructuring, and other charges on the Consolidated Statements of Operations, related to the definite-lived intangible assets of Quiet Platforms, due to insufficient prospective cash flows to support the carrying value of the assets. No definite-lived intangible asset impairment charges were recorded during Fiscal 2024.

Refer to Note 7, Goodwill and Intangible Assets, Net, to the Consolidated Financial Statements for additional information regarding goodwill and intangible assets and refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information regarding impairment charges for Fiscal 2023.

Equity Method Investments

During Fiscal 2024, the Company entered into a Limited Partnership Agreement of ACON Apparel Investors, L.P. (the "Fund"), with ACON Apparel GenPar, LLC. ("ACON") as the general partner. The Company paid $35.0 million for a 20% interest for its limited partner position in the Fund, which is recorded in Other Assets in the Consolidated Balance Sheet. Realized and unrealized gains (losses) are included within the Consolidated Statements of Operations as a component of Other (income), net. During Fiscal 2025, the Company recorded a $23.0 million unrealized gain related to its position in the

Fund. During the 13 weeks ended January 31, 2026, the Company received a distribution of $20.9 million related to its position in the Fund.

 

Construction Allowances

As part of certain lease agreements for retail stores, the Company receives construction allowances from lessors, which are generally composed of cash amounts. The Company records a receivable and an adjustment to the operating lease ROU asset at the lease commencement date (date of initial possession of the store). The deferred lease credit is amortized as part of the single lease cost over the term of the original lease (including the pre-opening build-out period). The receivable is reduced as amounts are received from the lessor.

Self-Insurance Liability

The Company uses a combination of insurance and self-insurance mechanisms for certain losses related to employee medical benefits and worker’s compensation. Costs for self-insurance claims filed and claims incurred but not reported are accrued based on known claims and historical experience. Management believes that it has adequately reserved for its self-insurance liability, which is capped by stop-loss contracts with insurance companies. However, any significant variation of future claims from historical trends could cause actual results to differ from the accrued liability.

Leases

In accordance with the provisions of ASC 842, Leases ("ASC 842"), the Company accounts for its leases, both operating and finance, by recognizing initial ROU assets and lease liabilities measured at the present value of lease payments to be made over the lease term.

 

Refer to Note 9, Leases, to the Consolidated Financial Statements for additional information.

Co-Branded and Private Label Credit Cards

The Company offers a co-branded credit card and a private-label credit card under the AE and Aerie brands. These credit cards are issued by a third-party bank (the "Bank") in accordance with a credit card agreement (the "Agreement"). The Company has no liability to the Bank for bad debt expense, provided that purchases are made in accordance with the Bank’s procedures. We receive funding from the Bank based on the Agreement and card activity, which includes payments for new account activations and usage of the credit cards. We recognize revenue for this funding as we fulfill our performance obligations under the Agreement. This revenue is recorded in other revenue, which is a component of total net revenue in our Consolidated Statements of Operations.

Customer Loyalty Program

The Company offers a highly digitized loyalty program called Real Rewards by American Eagle and Aerie™ (the "Program"). The Program features a variety of benefits for loyalty members and credit card members. Under the Program, members accumulate points based on purchase activity and earn rewards by reaching certain point thresholds. Members earn dollar rewards in the form of discount savings certificates. Rewards earned are valid through the stated expiration date, which is 60 days from the issuance date of the reward. Rewards not redeemed during the 60-day redemption period are forfeited.

Points earned under the Program on purchases at AE and Aerie are accounted for in accordance with ASC 606, Revenue from Contracts with Customers ("ASC 606"). The portion of the sales revenue attributed to the reward points is deferred and recognized when the reward is redeemed or when the points expire, using the relative stand-alone selling price method. Additionally, reward points earned using the co-branded credit card on non-AE or Aerie purchases are accounted for in accordance with ASC 606. As the points are earned, a current liability is recorded for the estimated cost of the reward, and the impact of adjustments is recorded in revenue.

The Company defers a portion of the sales revenue attributed to the loyalty points and recognizes revenue when the points are redeemed or expire, consistent with the requirements of ASC 606.

Sales Return Reserve

Revenue is recorded net of estimated and actual sales returns and deductions for coupon redemptions and other promotions. The Company records the impact of adjustments to its sales return reserve quarterly within total net revenue and cost of sales. The sales return reserve reflects an estimate of sales returns based on projected merchandise returns determined using historical average return percentages.

 

 

 

Fiscal Years Ending

 

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

 

Beginning balance

 

$

9,676

 

 

$

10,766

 

 

$

10,369

 

 

Returns

 

 

(165,492

)

 

 

(161,891

)

 

 

(161,833

)

 

Provisions

 

 

166,818

 

 

 

160,801

 

 

 

162,230

 

 

Ending balance

 

$

11,002

 

 

$

9,676

 

 

$

10,766

 

 

 

The presentation on a gross basis consists of a separate right of return asset and liability. These amounts are recorded within (i) other current assets and (ii) other current liabilities and accrued expenses, respectively, on the Consolidated Balance Sheets.

Long-Term Debt

In April 2020, the Company issued $415 million aggregate principal amount of convertible senior notes due 2025 (the "2025 Notes"). In accordance with ASU 2020-06, Debt with Conversion and Other Options (“ASU 2020-06”), the 2025 Notes were accounted for as a single balance in long-term debt beginning in Fiscal 2022, and until their final redemption in Fiscal 2023.

In June 2022, the Company entered into an amended and restated credit agreement (the "Credit Agreement"). The Credit Agreement provides senior secured asset-based revolving credit for loans and letters of credit up to $700 million, subject to customary borrowing base limitations (the "Credit Facility"). The Credit Facility expires in June 2027.

Refer to Note 8, Long-Term Debt, Net, to the Consolidated Financial Statements for additional information regarding Long-Term Debt.

Income Taxes

The Company calculates income taxes in accordance with ASC 740, Income Taxes ("ASC 740"), which requires the use of the liability method. Under this method, deferred tax assets and liabilities are recognized based on the difference between the Consolidated Financial Statements carrying amounts of existing assets and liabilities and their respective tax bases as computed pursuant to ASC 740. Deferred tax assets and liabilities are measured using the tax rates, based on certain judgments regarding enacted tax laws and published guidance in effect in the years when those temporary differences are expected to reverse. A valuation allowance is established against the deferred tax assets when it is more likely than not that some portion or all of the deferred taxes may not be realized. Changes in the Company’s level and composition of earnings, tax laws or the deferred tax valuation allowance, as well as the results of tax audits may materially impact the Company’s effective income tax rate.

The Company evaluates its income tax positions in accordance with ASC 740, which prescribes a comprehensive model for recognizing, measuring, presenting and disclosing in the financial statements tax positions taken or expected to be taken on a tax return, including a decision whether to file or not to file in a particular jurisdiction. Under ASC 740, a tax benefit from an uncertain position may be recognized only if it is "more likely than not" that the position is sustainable based on its technical merits.

The calculation of deferred tax assets and liabilities, as well as the decision to recognize a tax benefit from an uncertain position and to establish a valuation allowance requires management to make estimates and assumptions. The Company believes that its estimates and assumptions are reasonable, although actual results may have a positive or negative material impact on the balances of deferred tax assets and liabilities, valuation allowances or net income.

In Fiscal 2025, the Company adopted ASU 2023-09 which requires enhanced disaggregation in the rate reconciliation and expanded disclosure of income taxes paid by jurisdiction. The Company adopted this standard on a prospective basis; accordingly, the newly required disaggregated disclosures are provided for in the current fiscal period, while prior-period comparative disclosures have not been retrospectively adjusted.

Refer to Note 13, Income Taxes, to the Consolidated Financial Statements for additional information.

Accelerated Share Repurchase Agreement

On March 14, 2025, the Company entered into an accelerated share repurchase agreement (the "ASR Agreement") with Bank of America, N.A. ("Bank of America") to repurchase an aggregate of $200 million of the Company’s common stock.

Pursuant to the terms of the ASR Agreement, on March 17, 2025, the Company made an aggregate payment of $200 million to Bank of America and received an aggregate initial delivery of approximately 14.5 million shares of its common stock. At final settlement on June 16, 2025, the Company received an additional 3.9 million shares. The cumulative repurchases under the ASR Agreement totaled 18.4 million shares, in the aggregate, at an average price of $10.86 per share.

Revenue Recognition

The Company recognizes revenue pursuant to ASC 606. Revenue is recorded for store sales upon the purchase of merchandise by customers. The Company’s e-commerce operation records revenue upon the customer receipt date of the merchandise. Shipping and handling revenues are included in total net revenue. Sales tax collected from customers is excluded from revenue and is included as part of accrued income and other taxes on the Company’s Consolidated Balance Sheets.

The Company recognizes royalty revenue generated from its license or franchise agreements based on a percentage of merchandise sales by the licensee/franchisee. This revenue is recorded as a component of total net revenue when earned and collection is probable.

The Company defers a portion of the sales revenue attributed to loyalty points and recognizes revenue when the points are redeemed or expire, consistent with the requirements of ASC 606. Refer to "Customer Loyalty Program" above for additional information.

Revenue associated with Quiet Platforms is recognized as the services are performed.

Cost of Sales, Including Certain Buying, Occupancy, and Warehousing Expenses

Cost of sales consists of merchandise costs, including design costs, sourcing, importing and inbound freight costs, as well as markdowns, shrinkage and certain promotional costs (collectively, "merchandise costs"); Quiet Platforms' costs to service its customers; and buying, occupancy and warehousing costs and services.

Design costs are related to the Company's design center operations and include compensation, travel and entertainment, supplies and samples for our design teams, as well as rent and depreciation for our design center. These costs are included in cost of sales as the respective inventory is sold.

Buying, occupancy and warehousing costs and services consist of compensation, employee benefit expenses and travel and entertainment for our buyers and certain senior merchandising executives; rent and utilities related to our stores, corporate headquarters, distribution centers and other office space; freight from our distribution centers to the stores; compensation and supplies for our distribution centers, including purchasing, receiving and inspection costs; and shipping and handling costs related to our e-commerce operation. Gross profit is the difference between total net revenue and cost of sales.

Selling, General, and Administrative Expenses

Selling, general and administrative expenses consist of compensation and employee benefit expenses, including salaries, incentives and related benefits associated with our stores and corporate headquarters. Selling, general and administrative expenses also include advertising costs, supplies for our stores and home office, communication costs, travel and entertainment, leasing costs and services purchased.

Selling, general and administrative expenses do not include compensation, employee benefit expenses and travel for our design, sourcing and importing teams, our buyers and our distribution centers as these amounts are recorded in cost of sales. Additionally, selling, general and administrative expenses do not include rent and utilities, operating costs of our distribution centers, and shipping and handling costs related to our e-commerce operations, all of which are included in cost of sales.

Advertising Costs

Certain advertising costs, including direct mail, in-store photographs, and other promotional costs are expensed when the marketing campaign commences. As of January 31, 2026, the Company had prepaid advertising costs of $17.8 million. As of February 1, 2025, the Company had prepaid advertising expense of $12.1 million. All other advertising costs are expensed as incurred. The Company recognized $251.3 million, $206.3 million, and $186.9 million in advertising expense during Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively.

Store Pre-Opening Costs

Store pre-opening costs consist primarily of rent, advertising, supplies, and payroll expenses. These costs are expensed as incurred.

Interest Expense (Income), Net

Interest expense (income), net primarily consists of interest expense from Credit Facility borrowings and interest income from cash and cash equivalents.

Other Income, Net

Other income, net consists primarily of foreign currency fluctuations and realized and unrealized gains (losses) on equity method investments.

Legal Proceedings and Claims

The Company is subject to certain legal proceedings and claims arising out of the conduct of its business. In accordance with ASC 450, Contingencies ("ASC 450"), the Company records a reserve for estimated losses when the loss is probable and the amount can be reasonably estimated. If a range of possible loss exists and no anticipated loss within the range is more likely than any other anticipated loss, the Company records the accrual at the low end of the range, in accordance with ASC 450. As the Company believes that it has provided adequate reserves, it anticipates that the ultimate outcome of any matter currently pending against the Company will not materially affect the consolidated financial position, results of operations or cash flows of the Company. However, our assessment of any litigation or other legal claims could potentially change in light of the discovery of facts not presently known or determinations by judges, juries, or other finders of fact that are not in accord with management’s evaluation of the possible liability or outcome of such litigation or claims.

Supplemental Disclosures of Cash Flow Information

The table below shows supplemental cash flow information for cash amounts paid (received) during the respective periods:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Cash paid (received) during the periods for:

 

 

 

 

 

 

 

 

 

Income taxes

 

$

63,249

 

 

$

139,777

 

 

$

31,440

 

Interest

 

$

7,272

 

 

$

1,592

 

 

$

2,494

 

Refer to Note 13, Income Taxes, to the Consolidated Financial Statements for additional information.

Segment Information

The Company has identified two operating segments (American Eagle and Aerie brand) that also represent our reportable segments and reflect our Chief Operating Decision Maker’s ("CODM") (defined as our Chief Executive Officer ("CEO")) internal view of analyzing results and allocating resources. Additionally, our Todd Snyder and Unsubscribed brands and Quiet Platforms have been identified as separate operating segments; however, as they do not meet the quantitative thresholds for separate disclosures they have been included in the Corporate and Other category. For additional information regarding the Company’s segment and geographic information, refer to Note 14, Segment Reporting, to the Consolidated Financial Statements.
v3.26.1
Cash and Cash Equivalents and Short-term Investments
 12 Months Ended
Jan. 31, 2026
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents and Short-term Investments

The following table summarizes the fair market value of our cash, cash equivalents, and short-term investments, which are recorded on the Consolidated Balance Sheets:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

(In thousands)

 

2026

 

 

2025

 

Cash and cash equivalents:

 

 

 

 

 

 

Cash

 

$

183,406

 

 

$

150,053

 

Interest-bearing deposits

 

$

55,517

 

 

$

158,909

 

Total cash and cash equivalents

 

$

238,923

 

 

$

308,962

 

Short-term investments:

 

 

 

 

 

 

Certificates of deposits

 

$

-

 

 

$

50,000

 

Total short-term investments

 

$

-

 

 

$

50,000

 

Total cash and short-term investments

 

$

238,923

 

 

$

358,962

 
v3.26.1
Fair Value Measurements
 12 Months Ended
Jan. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements

4. Fair Value Measurements

ASC 820, Fair Value Measurement Disclosures ("ASC 820"), defines fair value, establishes a framework for measuring fair value in accordance with GAAP, and expands disclosures about fair value measurements. Fair value is defined under ASC 820 as the exit price associated with the sale of an asset or transfer of a liability in an orderly transaction between market participants at the measurement date.

Financial Instruments

Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. In addition, ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include:

•
Level 1 — Quoted prices in active markets.
•
Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly.
•
Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company’s cash equivalents and short-term investments are Level 1 financial assets and are measured at fair value on a recurring basis, for all periods presented. Refer to Note 3, Cash and Cash Equivalents and Short-term Investments, to the Consolidated Financial Statements for additional information regarding cash equivalents and short-term investments.

The Company had no other financial instruments that required fair value measurement for any of the periods presented.

Long-Term Debt

As of January 31, 2026 and February 1, 2025, there were no outstanding borrowings under the Company's Credit Facility.

 

Refer to Note 8, Long-Term Debt, Net, to the Consolidated Financial Statements for additional information regarding long-term debt and other credit arrangements.

Non-Financial Assets

The Company’s non-financial assets, which include intangible assets and property and equipment, are not required to be measured at fair value on a recurring basis. However, if certain triggering events occur and the Company is required to evaluate the non-financial asset for impairment, a resulting impairment would require that the non-financial asset be recorded at the estimated fair value. Certain long-lived assets were measured at fair value on a nonrecurring basis using Level 3 inputs as defined in ASC 820.

During Fiscal 2025, the Company recorded asset impairment charges of $33.4 million related to operating lease ROU assets and $37.2 million related to fixed assets. The Company also recorded asset impairment charges of $1.3 million related to Quiet Platforms definite-lived intangible assets. These assets were adjusted to their fair value and the loss on impairment was recorded within Impairment, Restructuring and Other Charges in the Consolidated Statements of Operations for the fiscal year ended January 31, 2026.

During Fiscal 2024, the Company recorded asset impairment charges of $6.4 million related to the sale of its Hong Kong retail operations.

Refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information.

The fair value of the Company’s assets in Fiscal 2025 and Fiscal 2024 was determined by estimating the amount and timing of net future cash flows and discounting them using a risk-adjusted rate of interest. The Company estimates future cash flows based on its experience and knowledge of the market in which the store is located.

The fair value of the Company's ROU assets was based upon market rent assumptions.
v3.26.1
Earnings per Share (EPS)
 12 Months Ended
Jan. 31, 2026
Earnings Per Share [Abstract]  
Earnings per Share (EPS)

5. Earnings per Share ("EPS")

Net income per basic and diluted share attributable to AEO is computed based on the weighted average number of outstanding shares of common stock. The following is a reconciliation between basic and diluted weighted average shares outstanding:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income attributable to AEO and numerator for basic EPS

 

$

191,983

 

 

$

329,380

 

 

$

170,038

 

Add: Interest expense, net of tax, related to the 2025 Notes (1)

 

 

—

 

 

 

—

 

 

 

58

 

Numerator for diluted EPS

 

$

191,983

 

 

$

329,380

 

 

$

170,096

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Denominator for basic EPS - weighted average shares

 

 

172,165

 

 

 

193,056

 

 

 

195,646

 

Add: Dilutive effect of the 2025 Notes (1)

 

 

—

 

 

 

—

 

 

 

205

 

Add: Dilutive effect of stock options and non-vested restricted stock

 

 

3,976

 

 

 

3,356

 

 

 

1,012

 

Denominator for diluted EPS - adjusted weighted average shares

 

 

176,141

 

 

 

196,412

 

 

 

196,863

 

Anti-dilutive shares (2)

 

 

3,128

 

 

 

500

 

 

 

1,289

 

 

(1)
In accordance with ASU 2020-06, the Company utilizes the "if-converted" method of calculating diluted EPS.
(2)
For all periods presented, anti-dilutive shares relate to stock options and unvested restricted stock.

Refer to Note 2, Summary of Significant Accounting Policies, and Note 11, Share-Based Payments, to the Consolidated Financial Statements for additional information regarding the 2025 Notes and share-based compensation, respectively.
v3.26.1
Property and Equipment, net
 12 Months Ended
Jan. 31, 2026
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

6. Property and Equipment, Net

Property and equipment, net consists of the following:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

(In thousands)

 

2026

 

 

2025

 

Land

 

$

17,910

 

 

$

17,910

 

Buildings

 

 

228,633

 

 

 

228,390

 

Leasehold improvements

 

 

954,697

 

 

 

890,155

 

Fixtures and equipment

 

 

1,405,678

 

 

 

1,432,344

 

Construction in progress

 

 

102,027

 

 

 

2,486

 

Property and equipment, at cost

 

$

2,708,945

 

 

$

2,571,285

 

Less: Accumulated depreciation

 

 

(1,923,323

)

 

 

(1,820,021

)

Property and equipment, net

 

$

785,622

 

 

$

751,264

 

Refer to Note 9, Leases to the Consolidated Financial Statements included herein for additional information regarding property and equipment acquired under finance leases.

 

Depreciation expense is as follows:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Depreciation expense

 

$

215,710

 

 

$

216,093

 

 

$

230,833

 

 

Depreciation expense included depreciation for assets acquired under finance leases of $10.5 million, $7.0 million, and $1.9 million for Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively. Additionally, during Fiscal 2025, Fiscal 2024 and Fiscal 2023, the Company recorded $4.7 million, $5.1 million, and $3.6 million, respectively, related to asset write-offs within depreciation and amortization expense.
v3.26.1
Goodwill and Intangible Assets, net
 12 Months Ended
Jan. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net

7. Goodwill and Intangible Assets, Net

Goodwill and definite-lived intangible assets, net consist of the following:

 

 

 

Fiscal Years Ending

 

 

 

January 31, 2026

 

 

February 1, 2025

 

(In thousands)

 

American Eagle

 

 

Aerie

 

 

Total

 

 

American Eagle

 

 

Aerie

 

 

Total

 

Goodwill, beginning balance(1)

 

$

114,479

 

 

$

110,600

 

 

$

225,079

 

 

$

114,703

 

 

$

110,600

 

 

$

225,303

 

Foreign currency fluctuation

 

 

190

 

 

 

 

 

 

190

 

 

 

(224

)

 

 

 

 

 

(224

)

Goodwill, ending balance

 

$

114,669

 

 

$

110,600

 

 

$

225,269

 

 

$

114,479

 

 

$

110,600

 

 

$

225,079

 

 

(1)
Beginning balances include accumulated impairment of $43.8 million for both January 31, 2026 and February 1, 2025.

 

 

 

Fiscal Year Ending January 31, 2026

 

 

 

Intangible assets,

 

 

Accumulated

 

 

Accumulated

 

 

Intangible assets,

 

(In thousands)

 

gross

 

 

amortization

 

 

impairment (1)

 

 

net

 

Trademarks

 

$

96,468

 

 

$

(59,000

)

 

$

-

 

 

$

37,468

 

Trade names

 

 

12,500

 

 

 

(1,826

)

 

 

(10,674

)

 

 

-

 

Customer relationships

 

 

39,000

 

 

 

(7,800

)

 

 

(31,200

)

 

 

-

 

Total intangible assets

 

$

147,968

 

 

$

(68,626

)

 

$

(41,874

)

 

$

37,468

 

 

 

(1)
Accumulated impairment includes $1.3 million related to Quiet Platforms trade names recorded in Fiscal 2025, and $31.2 million of customer relationships and $9.3 million of trade names related to Quiet Platforms recorded in Fiscal 2023.

 

 

 

Fiscal Year Ending February 1, 2025

 

 

 

Intangible assets,

 

 

Accumulated

 

 

Accumulated

 

 

Intangible assets,

 

(In thousands)

 

gross

 

 

amortization

 

 

impairment (1)

 

 

net

 

Trademarks

 

$

95,856

 

 

$

(54,791

)

 

$

-

 

 

$

41,065

 

Trade names

 

 

12,500

 

 

 

(1,783

)

 

 

(9,333

)

 

 

1,384

 

Customer relationships

 

 

39,000

 

 

 

(7,800

)

 

 

(31,200

)

 

 

-

 

Total intangible assets

 

$

147,356

 

 

$

(64,374

)

 

$

(40,533

)

 

$

42,449

 

 

(1)
Accumulated impairment includes $31.2 million of customer relationships and $9.3 million of trade names related to Quiet Platforms recorded in Fiscal 2023.

 

Amortization expense is as follows:

 

 

 

Fiscal Years Ending

 

(In thousands)

 

January 31, 2026

 

 

February 1, 2025

 

 

February 3, 2024

 

Amortization expense

 

$

4,324

 

 

$

4,432

 

 

$

8,748

 

 

The table below summarizes the estimated future amortization expense for intangible assets existing as of January 31, 2026 for the next five fiscal years:

 

 

 

Future

 

 

(In thousands)

 

Amortization

 

 

2026

 

$

3,949

 

 

2027

 

$

3,877

 

 

2028

 

$

3,851

 

 

2029

 

$

3,671

 

 

2030

 

$

3,506

 

 
v3.26.1
Long-Term Debt, Net
 12 Months Ended
Jan. 31, 2026
Debt Disclosure [Abstract]  
Long-Term Debt, Net

8. Long-Term Debt, Net

 

The Company had no long-term debt outstanding as of January 31, 2026, February 1, 2025, and February 3, 2024.

Revolving Credit Facility

In June 2022, the Company amended and restated its Credit Agreement. The Credit Agreement provides senior secured asset-based revolving credit for loans and letters of credit up to $700 million, subject to customary borrowing base limitations. The Credit Facility expires in June 2027.

All obligations under the Credit Facility are unconditionally guaranteed by certain subsidiaries. The obligations under the Credit Agreement are secured by certain assets of the Company and certain subsidiaries.

As of January 31, 2026 and February 1, 2025, there were no outstanding borrowings under the Credit Agreement, and the Company was in compliance with the terms of the Credit Agreement with $12.0 million outstanding in stand-by letters of credit.

Borrowings under the Credit Facility accrue interest at the election of the Company at an adjusted secured overnight financing rate ("SOFR") plus 0.10% plus an applicable margin (ranging from 1.125% to 1.375%) or an alternate base rate plus an applicable margin (ranging from 0.125% to 0.375%), with each such applicable margin being based on average borrowing availability under the Credit Facility. Interest is payable quarterly and at the end of each applicable interest period. The weighted average interest rate for borrowings during Fiscal 2025 was 5.6%. The total interest expense related to the Credit Facility borrowings for Fiscal 2025 was $6.4 million. There were no Credit Facility borrowings in Fiscal 2024. The weighted average interest rate for borrowings during Fiscal 2023 was 6.0%. The total interest expense related to the Credit Facility borrowings for Fiscal 2023 was $1.1 million.
v3.26.1
Leases
 12 Months Ended
Jan. 31, 2026
Leases [Abstract]  
Leases

9. Leases

The Company leases all store premises, regional distribution facilities, some of its office space and certain information technology, supply chain and office equipment under operating and finance leases.

Store leases generally provide for a combination of base rentals and contingent rent based on store sales. Additionally, most leases include lessor incentives such as construction allowances and rent holidays. The Company is typically responsible for tenant occupancy costs including maintenance costs, common area charges, real estate taxes, and certain other expenses.

Most leases include one or more options to renew. The exercise of lease renewal options is at the Company’s discretion and is not reasonably certain at lease commencement. When measuring operating lease ROU assets and operating lease liabilities the Company only includes cash flows related to options to extend or terminate leases when those options are executed.

Some leases have variable payments. However, because they are not based on an index or rate, they are not included in the measurement of operating lease ROU assets and operating lease liabilities.

When determining the present value of future payments for an operating lease that does not have a readily determinable implicit rate, the Company uses its incremental borrowing rate as of the date of initial possession of the leased asset.

For leases that qualify for the short-term lease exemption, the Company does not record an operating lease liability or operating lease ROU asset. Short-term lease payments are recognized on a straight-line basis over the lease term of 12 months or less.

 

Finance Lease Classification

January 31, 2026

 

February 1, 2025

 

Assets

 

 

 

 

 

Finance leases

Property and equipment, at cost, net of accumulated depreciation (1)

$

45,454

 

$

37,979

 

Liabilities

 

 

 

 

 

Current

 

 

 

 

 

Finance leases

Other current liabilities and accrued expenses

 

12,901

 

 

11,303

 

Non-current

 

 

 

 

 

Finance leases

Other non-current liabilities

 

28,884

 

 

23,228

 

Total finance lease liabilities

$

41,785

 

$

34,531

 

 

(1) Finance lease assets are recorded net of accumulated depreciation of $20.3 million and $13.1 million as of January 31, 2026 and February 1, 2025, respectively.

 

The following table summarizes expense categories and cash payments for operating and finance leases during the period. It also includes the total non-cash transaction activity for new operating and finance lease assets and related lease liabilities entered into during the period.

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

February 1,

 

February 3,

 

(In thousands)

 

2026

 

2025

 

2024

 

Lease costs

 

 

 

 

 

 

 

Operating lease costs

 

 

 

 

 

 

 

Single lease costs

 

$

412,217

 

$

387,560

 

$

335,420

 

Variable lease costs

 

 

110,949

 

 

115,010

 

 

121,061

 

Short-term leases and other lease costs

 

 

9,716

 

 

2,281

 

 

45,411

 

 

 

 

 

 

 

 

 

Finance lease costs

 

 

 

 

 

 

 

Depreciation of leased assets

 

 

10,499

 

 

7,016

 

 

1,894

 

Interest on lease liabilities

 

 

819

 

 

112

 

 

91

 

Total lease costs

 

$

544,200

 

$

511,979

 

$

503,877

 

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

Operating cash flows for operating leases

 

$

(423,460

)

$

(387,560

)

$

(403,355

)

Operating cash flows for finance leases

 

 

(819

)

 

(112

)

 

(91

)

Financing cash flows for finance leases

 

 

(3,857

)

 

(4,073

)

 

(668

)

 

 

 

 

 

 

 

 

New operating lease ROU assets entered into during the period

 

 

598,390

 

 

559,750

 

 

153,236

 

New finance leases entered into during the period

 

 

18,785

 

 

31,407

 

 

13,018

 

 

The following table contains the average remaining lease term and discount rate, weighted by outstanding operating and finance lease liabilities as of the end of the period:

 

Lease term and discount rate

 

January 31, 2026

February 1, 2025

Weighted-average remaining lease term

 

 

 

Operating leases

 

7 years

7 years

Finance leases

 

6 years

3 years

Weighted-average discount rate

 

 

 

Operating leases

 

5.5%

5.2%

Finance leases

 

5.6%

5.8%

The table below is a maturity analysis of the operating and finance leases in effect as of the end of the period. Undiscounted cash flows for short-term leases are not material for the periods reported and are excluded from the table below:

 

 

 

Undiscounted cash flows

 

 

 

January 31, 2026

 

(In thousands)

 

Operating Leases

 

Finance Leases

 

Total

 

Fiscal years:

 

 

 

 

 

 

 

2026

 

 

370,253

 

 

12,716

 

 

382,969

 

2027

 

 

363,667

 

 

12,521

 

 

376,188

 

2028

 

 

315,024

 

 

11,573

 

 

326,597

 

2029

 

 

253,604

 

 

4,276

 

 

257,880

 

2030

 

 

184,021

 

 

4,274

 

 

188,295

 

Thereafter

 

 

749,190

 

 

1,068

 

 

750,258

 

Total undiscounted cash flows

 

$

2,235,759

 

$

46,428

 

$

2,282,187

 

Less: discount on lease liability

 

 

(535,436

)

 

(4,643

)

 

(540,079

)

Total lease liability

 

$

1,700,323

 

$

41,785

 

$

1,742,108

 
v3.26.1
Accumulated Other Comprehensive Loss
 12 Months Ended
Jan. 31, 2026
Equity [Abstract]  
Accumulated Other Comprehensive Loss

10. Accumulated Other Comprehensive Loss

The accumulated balances of other comprehensive loss included as part of the Consolidated Statements of Stockholders’ Equity follow:

 

Accumulated

 

 

Other

 

 

Comprehensive

 

(In thousands)

Loss

 

Balance at January 28, 2023

$

(32,630

)

Foreign currency translation gain (1)

 

17,911

 

Loss on long-term intra-entity foreign currency transactions

 

(1,691

)

Balance at February 3, 2024

$

(16,410

)

Foreign currency translation (loss) (1)

$

(41,493

)

Gain on long-term intra-entity foreign currency transactions

$

1,513

 

Balance at February 1, 2025

$

(56,390

)

Foreign currency translation gain (1)

$

40,804

 

Balance at January 31, 2026

$

(15,586

)

 

(1)
Foreign currency translation adjustments are not adjusted for income taxes as they relate to a permanent investment in a subsidiary.
v3.26.1
Share-Based Payments
 12 Months Ended
Jan. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Payments

11. Share-Based Payments

The Company accounts for share-based compensation under the provisions of ASC 718, Compensation – Stock Compensation ("ASC 718"), which requires the Company to measure and recognize compensation expense for all share-based payments at fair value. Total share-based compensation expense included in the Consolidated Statements of Operations for Fiscal 2025, Fiscal 2024, and Fiscal 2023 was $39.4 million ($29.3 million, net of tax), $39.6 million ($29.5 million, net of tax), and $51.1 million ($36.2 million, net of tax), respectively.

 

There was $14.4 million of share-based payment expense, consisting of both time- and performance-based awards, included in gross profit for Fiscal 2025. This is compared to $14.2 million of share-based payment expense included in gross profit for Fiscal 2024.

 

There was $25.0 million of share-based payment expense, consisting of time and performance-based awards, included in selling, general, and administrative expenses this year. This is compared to $25.4 million of share-based payment expense included in selling, general, and administrative expenses for Fiscal 2024.

ASC 718 requires recognition of compensation cost under a non-substantive vesting period approach for awards containing provisions that accelerate or continue vesting upon retirement. Accordingly, for awards with such provisions, the Company recognizes compensation expense over the period from the grant date to the date that retirement eligibility is achieved, if that is expected to occur during the nominal vesting period. Additionally, for awards granted to retirement-eligible employees, the full compensation cost of an award must be recognized immediately upon grant.

At January 31, 2026, the Company had awards outstanding under two share-based compensation plans, which are described below.

Share-based compensation plans

2023 Stock Award and Incentive Plan ("2023 Plan")

The 2023 Plan was approved by the Company's stockholders on June 7, 2023. The 2023 Plan authorized 10.6 million shares for issuance, in the form of options, stock appreciation rights ("SARS"), restricted stock, restricted stock units, bonus stock and awards, performance awards, dividend equivalents and other stock-based awards. The 2023 Plan allows the Compensation Committee of the Board of Directors to determine which employees receive awards and the terms and conditions of the awards under the 2023 Plan. The 2023 Plan provides for grants to non-employee directors, which are not to exceed in value of $750,000 in any single fiscal year. As of January 31, 2026, approximately 4.8 million shares of restricted stock and approximately 2.1 million shares of common stock had been granted under the 2023 Plan to employees and non-employee directors. Approximately 30% of the restricted stock awards are performance-based and are earned if the pre-established performance goals are met. The remaining 70% of the restricted stock awards are time-based, of which 98% vest ratably over three years and 2% vest over a period of one to two years.

 

2020 Stock Award and Incentive Plan ("2020 Plan" and, together with the 2023 Plan, the "Plans")

 

The 2020 Plan was approved by the stockholders on April 13, 2020. The 2020 Plan authorized 10.2 million shares for issuance, in the form of options, SARS, restricted stock, restricted stock units, bonus stock and awards, performance awards, dividend equivalents and other stock-based awards. In connection with the adoption of the 2023 Plan, the 2020 Plan terminated on June 7, 2023 with all rights of the awardees and all unexpired awards continuing in force and operation after the termination. Through June 7, 2023, approximately 7.2 million shares of restricted stock and approximately 3.4 million shares of common stock had been granted under the 2020 Plan to employees and directors. Approximately 40% of the restricted stock awards are performance-based and are earned if the established performance goals are met. The remaining 60% of the restricted stock awards are time-based, of which 97% vest ratably over three years and 3% vest over a period of one to two years.

Stock Option Grants

The Company has granted time-based stock options under the Plans. Time-based stock option awards vest over the requisite service period of the award or to an employee’s eligible retirement date, if earlier.

A summary of the Company’s stock option activity for Fiscal 2025 follows:

 

 

 

Fiscal Year Ending January 31, 2026

 

 

 

 

 

 

Weighted-
Average

 

 

Weighted-
Average
Remaining
Contractual

 

 

Aggregate
Intrinsic

 

 

 

Options

 

 

Exercise Price

 

 

Term

 

 

Value

 

 

 

(In thousands)

 

 

 

 

 

(In years)

 

 

(In thousands)

 

Outstanding - February 1, 2025

 

 

4,324

 

 

$

17.98

 

 

 

 

 

 

 

Granted

 

 

1,343

 

 

 

12.59

 

 

 

 

 

 

 

Exercised (1)

 

 

(598

)

 

 

15.55

 

 

 

 

 

 

 

Cancelled

 

 

(526

)

 

 

21.14

 

 

 

 

 

 

 

Outstanding - January 31, 2026

 

 

4,543

 

 

$

16.34

 

 

 

3.8

 

 

$

35,658

 

Vested and expected to vest - January 31, 2026

 

 

4,384

 

 

$

16.28

 

 

 

3.6

 

 

$

35,503

 

Exercisable - January 31, 2026 (2)

 

 

2,066

 

 

$

14.50

 

 

 

2.5

 

 

$

18,213

 

 

(1)
Options exercised during Fiscal 2025 ranged in price from $8.62 to $24.37.
(2)
Options exercisable represent "in-the-money" vested options based upon the weighted average exercise price of vested options compared to the Company’s stock price on January 31, 2026.

The weighted-average grant date fair value of stock options granted during Fiscal 2025 and Fiscal 2024 was $4.12 and $10.61, respectively. The aggregate intrinsic value of options exercised during Fiscal 2025 and Fiscal 2024 was $4.4 million and $3.5 million, respectively. Cash received from the exercise of stock options and the actual tax detriment realized from share-based payments was $9.3 million and $1.5 million, respectively, for Fiscal 2025. Cash received from the exercise of stock options and the actual tax benefit realized from share-based payments was $3.8 million and $2.1 million, respectively, for Fiscal 2024.

As of January 31, 2026, there was $0.6 million of unrecognized compensation expense related to non-vested stock option awards that is expected to be recognized over a weighted average period of 1.9 years.

The fair value of stock options was estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions:

 

 

 

Fiscal Years Ending

 

 

January 31,

 

February 1,

Black-Scholes Option Valuation Assumptions

 

2026

 

2025

Risk-free interest rate (1)

 

3.9%

 

4.4%

Dividend yield

 

3.5%

 

1.9%

Volatility factor (2)

 

47.5%

 

55.4%

Weighted-average expected term (3)

 

4.5 years

 

4.5 years

 

 

(1)
Based on the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected life of our stock options.
(2)
Based on the historical volatility of the Company’s common stock.
(3)
Represents the period that options are expected to be outstanding. The weighted average expected option terms were determined based on historical experience.

Restricted Stock Grants

Time-based restricted stock awards are composed of time-based restricted stock units. These awards vest over one to three years. Time-based restricted stock units receive dividend equivalents in the form of additional time-based restricted stock units, which are subject to the same restrictions and forfeiture provisions as the original awards.

Performance-based restricted stock awards include performance-based restricted stock units. These awards cliff vest at the end of a three-year period based upon the Company’s achievement of pre-established goals throughout the term of the award. Performance-based restricted stock units receive dividend equivalents in the form of additional performance-based restricted stock units, which are subject to the same restrictions and forfeiture provisions as the original awards.

The grant date fair value of time-based restricted stock awards is based on the closing market price of the Company’s common stock on the date of grant. A Monte Carlo simulation was utilized for performance-based restricted stock awards.

A summary of the activity of the Company’s restricted stock is presented in the following tables:

 

 

 

Time-Based Restricted Stock Units

 

 

Performance-
Based Restricted Stock Units

 

 

 

Fiscal Year Ending

 

 

Fiscal Year Ending

 

 

 

January 31, 2026

 

 

January 31, 2026

 

(Shares in thousands)

 

Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

 

Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Non-vested - February 1, 2025

 

 

2,360

 

 

$

18.56

 

 

 

2,218

 

 

$

18.05

 

Granted

 

 

2,109

 

 

 

12.68

 

 

 

1,096

 

 

 

14.53

 

Vested

 

 

(1,200

)

 

 

17.38

 

 

 

(563

)

 

 

19.69

 

Cancelled

 

 

(275

)

 

 

16.04

 

 

 

(307

)

 

 

18.61

 

Non-vested - January 31, 2026

 

 

2,994

 

 

$

15.12

 

 

 

2,444

 

 

$

16.02

 

 

 

As of January 31, 2026, there was $25.6 million of unrecognized compensation expense related to non-vested time-based restricted stock unit awards that is expected to be recognized over a weighted average period of 1.8 years. There was $5.0 million of unrecognized compensation expense related to performance-based restricted stock unit awards that is expected to be recognized over a weighted average period of 1.7 years.

As of January 31, 2026, the Company had 7.3 million shares available for all equity grants.

 

During Fiscal 2025 and Fiscal 2024, the Company repurchased approximately 0.7 million and 0.6 million shares, respectively, from certain employees at market prices totaling $7.9 million and $13.8 million, respectively. These shares were repurchased for the payment of taxes in connection with the vesting of share-based payments, as permitted under our equity incentive plans.

 

The aforementioned share repurchases have been recorded as treasury stock.
v3.26.1
Retirement Plan and Employee Stock Purchase Plan
 12 Months Ended
Jan. 31, 2026
Retirement Benefits [Abstract]  
Retirement Plan and Employee Stock Purchase Plan

12. Retirement Plan and Employee Stock Purchase Plan

The Company maintains a profit sharing and 401(k) plan (the "Retirement Plan"). Under the provisions of the Retirement Plan, full-time employees and part-time employees are automatically enrolled to contribute 3% of their salary if they have attained 20 years of age and have met respective, prescribed service requirements. Full-time employees need to have completed 30 days of service; part-time employees must either complete 1,000 hours of service within a 12-month period or complete 500 hours of service in two consecutive 12-month periods (effective January 1, 2023). Individuals can decline enrollment or can contribute up to 50% of their eligible salary to the 401(k) plan on either a pretax and/or post-tax (Roth) basis, subject to Internal Revenue Service ("IRS") annual limitations. After one year of service, the Company will match 100% of the first 3% of pay plus an additional 25% of the next 3% of pay that is contributed to the Retirement Plan. Employees are 100% vested in the Company match after two years of Retirement Plan-defined service have been completed. Contributions to the profit-sharing plan, as determined by the Board of Directors, are discretionary. The Company recognized $16.8 million in expense during Fiscal 2025, $16.0 million in Fiscal 2024, and $21.0 million in expense during Fiscal 2023 in connection with the Retirement Plan.

The Employee Stock Purchase Plan is a non-qualified plan that covers all full-time and part-time employees in the U.S. and Canada who are at least 18 years old and have completed 60 days of service. Contributions are determined by the employee ($5 minimum/pay period), with the Company matching 15% of the employee investment up to a maximum employee investment of $100 per pay period. These contributions are used to purchase shares of Company stock in the open market.
v3.26.1
Income Taxes
 12 Months Ended
Jan. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes

13. Income Taxes

On December 22, 2017, the U.S. government enacted comprehensive tax legislation in the form of the Tax Cuts and Jobs Act of 2017 (the "Tax Act"). The Tax Act significantly changed U.S. international tax laws for tax years beginning after December 31, 2017 and included a provision designed to currently tax global intangible low-taxed income ("GILTI") earned by non-U.S. corporate subsidiaries of large U.S. shareholders. The Company has elected to treat GILTI as a period expense, and the effect of the GILTI inclusion for Fiscal 2025 is not material.

 

On July 4, 2025, the U.S. government enacted tax legislation in H.R.1 Reconciliation Act, commonly referred to as the One Big Beautiful Bill Act (the “OBBBA”). The OBBBA includes significant provisions including modifications to U.S. taxation on foreign earnings, the reinstating of one hundred percent bonus depreciation and the repeal of capitalization of U.S. research and development expenditures, reinstating full expensing. The legislation has multiple effective dates, with certain provisions effective in 2025 and others effective in subsequent years.

 

The Company has accounted for the estimated tax implications of the OBBBA in Fiscal 2025. The impact to our effective tax rate for Fiscal 2025 is immaterial. As our assessment is based on current estimates, we will continue to refine our calculations and evaluate the full impact of the OBBBA on our consolidated financial statements. Our estimates may be adjusted as more guidance is released on the OBBBA and as additional information becomes available.

 

The components of income (loss) before income taxes are:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

U.S.

 

$

235,256

 

 

$

453,098

 

 

$

208,283

 

Foreign

 

 

14,132

 

 

 

(13,341

)

 

 

30,633

 

Total

 

$

249,388

 

 

$

439,757

 

 

$

238,916

 

The significant components of the Company’s deferred tax assets and liabilities are as follows:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

(In thousands)

 

2026

 

 

2025

 

Deferred tax assets:

 

 

 

 

 

 

Operating lease ROU assets

 

$

439,192

 

 

$

361,549

 

Capitalized research and development expenses

 

 

18,638

 

 

 

28,121

 

Accruals not currently deductible

 

 

14,920

 

 

 

10,508

 

Employee compensation and benefits

 

 

13,824

 

 

 

19,820

 

Deferred compensation

 

 

10,756

 

 

 

10,261

 

Net Operating Loss

 

 

10,682

 

 

 

12,470

 

Allowance for Doubtful Accounts

 

 

10,019

 

 

 

2,180

 

Inventories

 

 

6,863

 

 

 

6,231

 

Gift card liability

 

 

6,763

 

 

 

6,239

 

State tax credits

 

 

6,157

 

 

 

6,839

 

Impairment of investments

 

 

4,052

 

 

 

4,659

 

Other long-term assets

 

 

2,479

 

 

 

8,145

 

Other

 

 

1,196

 

 

 

1,136

 

Foreign tax credits

 

 

955

 

 

 

955

 

Gross deferred tax assets

 

$

546,496

 

 

$

479,113

 

Valuation allowance

 

 

(21,959

)

 

 

(18,998

)

Total deferred tax assets

 

$

524,537

 

 

$

460,115

 

Deferred tax liabilities:

 

 

 

 

 

 

Operating lease liabilities

 

$

(383,520

)

 

$

(319,488

)

Property and equipment

 

 

(45,446

)

 

 

(64,429

)

Prepaid expenses

 

 

(7,320

)

 

 

(5,561

)

Goodwill

 

 

(1,914

)

 

 

(1,937

)

Other

 

 

(805

)

 

 

(542

)

Total deferred tax liabilities

 

$

(439,005

)

 

$

(391,957

)

Total deferred tax assets, net

 

$

85,532

 

 

$

68,158

 

 

The change in net deferred tax assets was primarily due to an increase in the net deferred tax asset of Operating lease ROU assets, Operating lease liabilities and, a decrease in net deferred tax liability of Property and equipment partially offset by a decrease in Capitalized research and development expenses.

As of January 31, 2026, the Company had deferred tax assets related to federal, state and foreign net operating loss carryovers of $0.6 million, $5.1 million and $5.0 million, respectively, that could be utilized to reduce future years’ tax liabilities. A portion of these net operating loss carryovers expire in future years, and some have an indefinite carryforward period. Management believes it is more likely than not that a portion of state net operating loss and foreign net operating loss carryovers will not reduce future years’ tax liabilities in certain jurisdictions. As such, valuation allowances of $2.1 million and $2.9 million have been recorded on the deferred tax assets related to a portion of the state net operating loss carryovers as of January 31, 2026 and February 1, 2025, respectively. Further, valuation allowances of $4.4 million and $1.3 million have been recorded on the deferred tax assets related to the cumulative foreign net operating loss carryovers as of January 31, 2026 and February 1, 2025, respectively. We also provided for valuation allowances of $1.6 million as of January 31, 2026 and a nominal amount as of February 1, 2025, related to other foreign deferred tax assets.

The Company had foreign tax credit carryovers in the amount of $1.0 million as of both January 31, 2026 and February 1, 2025. The foreign tax credit carryovers begin to expire in Fiscal 2028 to the extent not utilized. Management believes it is more likely than not that a certain category of foreign tax credit carryover will not reduce future years’ tax liabilities. As such, valuation allowances of $1.0 million have been recorded on the deferred tax assets related to the foreign tax credit carryovers as of both January 31, 2026 and February 1, 2025.

The Company had state income tax credit carryforwards of $6.2 million and $6.8 million (net of federal tax) as of January 31, 2026 and February 1, 2025, respectively. These income tax credits can be utilized to offset future state income taxes, with the majority having a carryforward period of 16 years. They have started to expire in Fiscal 2024 and the deferred tax asset has been adjusted accordingly. Management believes it is more likely than not that a portion of the state income tax credit carryovers will not reduce future years’ tax liabilities in certain jurisdictions. As such, valuation allowances of $0.3 million and $1.0 million have been recorded on the deferred tax assets related to the cumulative state income tax credit carryovers as of January 31, 2026 and February 1, 2025, respectively.

The Company had U.S. federal and state impairments of investments of $4.0 million and $4.7 million as of January 31, 2026 and February 1, 2025, respectively. Management believes that it is more likely than not that these impairments of investments will not reduce future years’ tax liabilities. As such, valuation allowances of $4.0 million and $4.7 million have been recorded as of January 31, 2026 and February 1, 2025, respectively, on the deferred tax asset attributable to these impairments of investments. The Company recorded deferred tax assets of $8.1 million as of both January 31, 2026 and February 1, 2025, for other long-term assets related to the acquisition of Quiet Logistics, Inc. and certain other strategic investments. Management believes that it is more likely than not that these other long-term assets will not reduce future years’ tax liabilities. As such, valuation allowances of $8.1 million were recorded as of both January 31, 2026 and February 1, 2025, for the deferred tax asset attributable to these assets. The Company had U.S. federal and state capital loss carryforwards of $0.5 million as of January 31, 2026. Management believes that it is more likely than not that these capital losses will not reduce future years’ tax liabilities. The Company has recorded a valuation allowance of $0.5 million on the deferred tax asset attributable to these capital losses as of January 31, 2026.

 

Significant components of the provision (benefit) for income taxes are as follows:

 

 

 

Fiscal Years Ending

 


 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$

39,520

 

 

$

32,249

 

 

$

66,112

 

Foreign taxes

 

 

20,556

 

 

 

52,224

 

 

 

27,958

 

State

 

 

16,621

 

 

 

18,633

 

 

 

19,206

 

Total current

 

 

76,697

 

 

 

103,106

 

 

 

113,276

 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

$

(4,917

)

 

$

9,940

 

 

$

(31,602

)

Foreign taxes

 

 

(3,762

)

 

 

(3,766

)

 

 

(6,317

)

State

 

 

(4,152

)

 

 

3,574

 

 

 

(5,537

)

Total deferred

 

 

(12,831

)

 

 

9,748

 

 

 

(43,456

)

Provision for income taxes

 

$

63,866

 

 

$

112,854

 

 

$

69,820

 

 

As of January 31, 2026, the Company intends to permanently reinvest a portion of its earnings outside of the U.S. for the foreseeable future. On the remaining earnings, the Company has not recognized deferred tax expense because it expects any potential distribution to be made from previously taxed earnings, or qualify for the 100% dividends received deduction, along with negligible foreign withholding taxes.

 

The following table summarizes the activity related to our unrecognized tax benefits:

 

 

 

Fiscal Years Ending

 


 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Unrecognized tax benefits, beginning of the year
   balance

 

$

9,834

 

 

$

3,974

 

 

$

2,478

 

Increases in current period tax positions

 

 

165

 

 

 

157

 

 

 

2,371

 

Increases in tax positions of prior periods

 

 

1,668

 

 

 

16,428

 

 

 

10

 

Settlements

 

 

(3,615

)

 

 

(10,620

)

 

 

(275

)

Lapse of statute of limitations

 

 

(78

)

 

 

(73

)

 

 

(75

)

Decreases in tax positions of prior periods

 

 

(33

)

 

 

(32

)

 

 

(535

)

Unrecognized tax benefits, end of the year balance

 

$

7,941

 

 

$

9,834

 

 

$

3,974

 

 

 

As of January 31, 2026, the gross amount of unrecognized tax benefits was $7.9 million, of which $7.4 million would affect the effective income tax rate if recognized. The gross amount of unrecognized tax benefits as of February 1, 2025 was $9.8 million, of which $9.0 million would affect the effective income tax rate if recognized. Unrecognized tax benefits decreased $1.9 million during Fiscal 2025 and increased $5.9 million during Fiscal 2024.

The Company records accrued interest and penalties related to unrecognized tax benefits in income tax expense. Accrued interest and penalties related to unrecognized tax benefits included in the Consolidated Balance Sheets were $1.5 million and $1.4 million as of January 31, 2026 and February 1, 2025, , respectively. The amount of interest and penalties related to unrecognized tax benefits recognized in the provision for income taxes were $0.9 million for Fiscal 2025 and $7.3 million for Fiscal 2024. An immaterial amount was recognized for Fiscal 2023.

The Company and its subsidiaries file income tax returns in the U.S. and various state and foreign jurisdictions. The U.S. federal income tax statutes of limitations for tax years through January 30, 2021 have expired. With respect to state and local jurisdictions and countries outside of the U.S., with limited exceptions, generally, the Company and its subsidiaries are no longer subject to income tax audits for tax years before Fiscal 2018 (ended February 2, 2019). Although the outcome of tax audits is always uncertain, the Company believes that adequate amounts of tax, interest, and penalties have been provided for any adjustments that are expected to result from these years.

A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to the income before income taxes after the adoption of ASU 2023-09 is as follows:

 

 

Fiscal Years Ending

 

January 31,

 

2026

Disclosure Category

(In thousands)

 

Percent

U.S. Federal Statutory Tax Rate

$

52,371

 

21.0%

State and Local Income Tax, Net of Federal (National) Income Tax Effect*

 

8,375

 

3.4%

Foreign Tax Effects

 

 

 

   Mexico

 

 

      Inflation

 

(2,768

)

-1.1%

      Withholding Tax

 

7,916

 

3.2%

      Other

 

2,310

 

0.9%

   Netherlands

 

 

      Changes in Valuation Allowances

 

4,415

 

1.8%

      Other

 

(1,621

)

-0.7%

   Other Jurisdictions

 

3,642

 

1.5%

Effect of Changes in Tax Laws or Rates Enacted in the Current Period

 

-

 

0.0%

Effect of Cross-Border Tax Laws

 

 

      Foreign Derived Intangible Income

 

(6,448

)

-2.6%

      Other

 

57

 

0.0%

Tax Credits

 

 

      Foreign Tax Credit

 

(12,472

)

-5.0%

      Other

 

(1,540

)

-0.6%

Changes in Valuation Allowances

 

-

 

0.0%

Nontaxable or Nondeductible Items

 

 

      Nondeductible compensation

 

4,284

 

1.7%

      Other

 

2,443

 

1.0%

Changes in Unrecognized Tax Benefits

 

1,936

 

0.8%

Other Adjustments

 

966

 

0.3%

Effective Tax Rate

$

63,866

 

25.6%

 

*State taxes in New York, California, New Jersey, Massachusetts made up the majority (greater than 50 percent) of the tax effect in this category.

 

A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to the income before income taxes prior to the adoption of ASU 2023-09 is as follows:

 

 

 

Fiscal Years Ending

 

 

 

 

February 1,

 

 

February 3,

 

 

 

 

2025

 

 

2024

 

 

Federal income tax rate

 

 

21.0

%

 

 

21.0

%

 

State income taxes, net of federal income tax effect

 

 

3.7

 

 

 

4.4

 

 

Foreign rate differential

 

 

0.8

 

 

 

0.3

 

 

International provisions of Tax Act

 

 

(1.3

)

 

 

(2.2

)

 

Valuation allowance changes, net

 

 

0.7

 

 

 

0.5

 

 

Non-deductible executive compensation

 

 

1.3

 

 

 

3.8

 

 

Change in unrecognized tax benefits

 

 

0.7

 

 

 

0.8

 

 

Share Based Payments

 

 

(0.5

)

 

 

0.2

 

 

Non-deductible goodwill

 

 

0.0

 

 

 

3.5

 

 

Federal Credits

 

 

(0.8

)

 

 

(2.1

)

 

Other

 

 

0.1

 

 

 

(1.0

)

 

 

 

 

25.7

%

 

 

29.2

%

 

 

The Company recorded income tax expense of $112.9 million (an effective tax rate of 25.7%) in Fiscal 2024, and income tax expense of $69.8 million (an effective tax rate of 29.2%) in Fiscal 2023.

 

The amounts of cash income taxes paid by the Company were as follows:

 

 

Fiscal Year Ending

 

 

January 31,

 

 

2026

 

Jurisdictions

(In thousands)

 

Federal Taxes

 

 United States

$

26,609

 

State Taxes

 

 PA

 

3,752

 

 Other State Jurisdictions

 

12,630

 

Foreign Taxes

 

 Canada

 

3,771

 

 Mexico

 

11,867

 

 Other Foreign Jurisdictions

 

4,620

 

Total Cash Taxes Paid (net of refunds)

$

63,249

 
v3.26.1
Segment Reporting
 12 Months Ended
Jan. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting

14. Segment Reporting

In accordance with ASC 280, Segment Reporting ("ASC 280"), the Company has identified two operating segments (American Eagle brand and Aerie brand) that also represent our reportable segments and reflect the CODM’s (defined as our CEO) internal view of analyzing results and allocating resources. Additionally, our Todd Snyder brand, Unsubscribed brand, and Quiet Platforms have been identified as separate operating segments; however, as they do not meet the quantitative thresholds for separate disclosure, they are presented under the "Other" caption, as permitted by ASC 280.

 

Unallocated corporate expenses are comprised of general and administrative costs that management does not attribute to any of our operating segments. These costs primarily relate to corporate administration, information and technology resources, finance and human resources functional and organizational costs, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from corporate-level activities and projects.

Our CEO analyzes segment results and allocates resources between segments based on the adjusted operating income (loss), or the operating income (loss) in periods where there are no adjustments, of each segment. Adjusted operating income (loss) is a non-GAAP financial measure ("non-GAAP" or "adjusted") that is defined by the Company as operating income excluding impairment, restructuring and other charges. Adjusted operating income (loss) is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to similar measures presented by other companies. Non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. We believe that this non-GAAP information is useful as an additional means for investors to evaluate our operating performance, when reviewed in conjunction with our GAAP consolidated financial statements and provides a higher degree of transparency.

Reportable segment information is presented in the following table:

For the year ended January 31, 2026 (In thousands)

 

American Eagle

 

 

Aerie

 

 

Other

 

 

Intersegment Elimination

 

 

Total

 

Net Revenue

 

$

3,411,237

 

 

$

1,940,924

 

 

$

226,027

 

 

$

(30,952

)

 

$

5,547,236

 

Cost of sales, including certain buying, occupancy and warehousing costs

 

 

2,116,039

 

 

 

1,156,194

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

756,038

 

 

 

379,282

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

84,047

 

 

 

59,574

 

 

 

 

 

 

 

 

 

 

Total segment operating income

 

$

455,113

 

 

$

345,874

 

 

$

(44,379

)

 

$

-

 

 

$

756,608

 

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(428,783

)

Impairment, restructuring and other charges (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(101,603

)

Total operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

226,222

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,112

 

Other (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(27,278

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

249,388

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended February 1, 2025 (In thousands)

 

American Eagle

 

 

Aerie

 

 

Other

 

 

Intersegment Elimination

 

 

Total

 

Net Revenue

 

$

3,385,231

 

 

$

1,738,414

 

 

$

243,907

 

 

$

(38,900

)

 

$

5,328,652

 

Cost of sales, including certain buying, occupancy and warehousing costs

 

 

1,976,914

 

 

 

1,018,418

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

727,590

 

 

 

345,054

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

74,220

 

 

 

59,097

 

 

 

 

 

 

 

 

 

 

Total segment operating income

 

$

606,507

 

 

$

315,845

 

 

$

(53,722

)

 

$

-

 

 

$

868,630

 

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(423,766

)

Impairment, restructuring and other charges (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(17,561

)

Total operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

427,303

 

Interest (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7,769

)

Other (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(4,685

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

439,757

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended February 3, 2024 (In thousands)

 

American Eagle

 

 

Aerie

 

 

Other

 

 

Intersegment Elimination

 

 

Total

 

Net Revenue

 

$

3,361,579

 

 

$

1,670,000

 

 

$

489,056

 

 

$

(258,865

)

 

$

5,261,770

 

Cost of sales, including certain buying, occupancy and warehousing costs

 

 

1,955,069

 

 

 

1,009,650

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

729,519

 

 

 

323,239

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

77,195

 

 

 

61,249

 

 

 

 

 

 

 

 

 

 

Total segment operating income

 

$

599,796

 

 

$

275,862

 

 

$

(36,124

)

 

$

-

 

 

$

839,534

 

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(464,172

)

Impairment, restructuring and other charges (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(152,645

)

Total operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

222,717

 

Interest (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6,190

)

Other (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(10,009

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

238,916

 

 

(1) Refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information.

 

 

Fiscal Years Ending

 

 

January 31, 2026

 

 

February 1, 2025

 

 

February 3, 2024

 

 

 

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

    American Eagle

$

96,816

 

 

$

86,953

 

 

$

61,139

 

    Aerie

 

85,670

 

 

 

68,541

 

 

 

40,746

 

    Other

 

13,766

 

 

 

11,965

 

 

 

32,235

 

   General corporate expenditures

 

64,543

 

 

 

55,079

 

 

 

40,317

 

Total Capital Expenditures

$

260,795

 

 

$

222,538

 

 

$

174,437

 

 

We do not allocate assets to the reportable segment level and therefore our CODM does not use segment asset information to make decisions.

Total net revenue for the American Eagle and Aerie reportable segments above represents revenue attributable to each brand's merchandise, which comprises approximately 96% of total net revenue.

The following tables present summarized geographical information:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Total net revenue:

 

 

 

 

 

 

 

 

 

United States

 

$

4,627,201

 

 

$

4,492,630

 

 

$

4,424,345

 

Foreign (1)

 

 

920,035

 

 

 

836,022

 

 

 

837,425

 

Total net revenue

 

$

5,547,236

 

 

$

5,328,652

 

 

$

5,261,770

 

 

(1)
Amounts represent sales from American Eagle and Aerie international retail stores, and e-commerce sales that are billed to and/or shipped to foreign countries and international franchise royalty revenue.

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

(In thousands)

 

2026

 

 

2025

 

Long-lived assets, net:

 

 

 

 

 

 

United States

 

$

2,052,498

 

 

$

1,887,502

 

Foreign

 

 

183,716

 

 

 

159,162

 

Total long-lived assets, net

 

$

2,236,214

 

 

$

2,046,664

 
v3.26.1
Impairment, Restructuring and Other Charges
 12 Months Ended
Jan. 31, 2026
Restructuring and Related Activities [Abstract]  
Impairment, Restructuring and Other Charges

15. Impairment, Restructuring and Other Charges

In Fiscal 2025, as part of our continued supply chain network optimization project, the Company made the decision to close the Quiet Platforms business and discontinue services for all third-party customers which resulted in $59.0 million in impairment and restructuring costs in Fiscal 2025.

During the fourth quarter of Fiscal 2025, the Company recorded an additional $42.6 million of impairment and restructuring charges to align the organization with its strategic priorities.

The following table represents impairment, restructuring and other charges. All amounts were recorded within impairment, restructuring and other charges on the Consolidated Statements of Operations, unless otherwise noted.

 

 

 

For the year ended

 

 

 

January 31,

 

(In thousands)

 

2026

 

Quiet Platforms (1)

 

 

 

Long-lived asset impairment charges

 

$

50,685

 

Employee severance

 

 

6,365

 

Commercial contract costs

 

 

1,916

 

Corporate and Stores (2)

 

 

 

Long-lived asset impairment charges

 

$

21,308

 

Contract termination costs

 

 

13,799

 

Employee severance

 

 

7,531

 

Total impairment and restructuring charges

 

$

101,603

 

The following footnotes relate to the impairment and restructuring charges recorded in Fiscal 2025:

(1)
The Company recorded $50.7 million of asset impairment charges primarily related to closing Quiet Platforms fulfillment centers as part of its continued supply chain network optimization project. Of this amount, $30.5 million of charges relates to property and equipment, $18.8 million relates to ROU assets, and $1.3 million relates to definite-lived intangible assets. The Company recorded $6.4 million of employee severance, primarily related to closing Quiet Platforms fulfillment centers. Restructuring charges of $1.9 million were also recorded related to exiting third-party contracts.
(2)
The Company recorded $21.3 million of retail store asset impairment charges. Of this amount, $14.6 million relates to ROU assets and $6.7 million relates to property and equipment. All impairments were recorded due to insufficient prospective cash flows to support the asset values. The Company also recorded $13.8 million of impairment charges related to contract termination costs and $7.5 million of employee severance.

 

 

 

 

For the year ended

 

 

 

February 1,

 

(In thousands)

 

2025

 

Corporate restructuring costs (1)

 

 

10,729

 

Hong Kong retail operations impairment and restructuring costs (2)

 

 

6,832

 

Total impairment, restructuring and other charges

 

$

17,561

 

The following footnotes relate to the impairment and restructuring charges recorded in Fiscal 2024:

(1)
The Company recorded restructuring costs of $10.7 million related to employee severance.
(2)
The Company recorded impairment and restructuring costs of $6.8 million related to the sale of the Company's Hong Kong retail operations to a third-party buyer. These costs primarily consist of impairment of $6.4 million and employee severance.

 

 

 

For the year ended

 

 

 

February 3,

 

(In thousands)

 

2024

 

Charges recorded in cost of sales:

 

 

 

       Inventory charges (1)

 

$

10,950

 

 

 

 

 

Charges recorded in operating expenses:

 

 

 

    Quiet Platforms impairment, restructuring and other charges (2)

 

 

119,572

 

International impairment and restructuring costs (3)

 

 

10,882

 

    Corporate impairment and restructuring charges (4)

 

 

11,241

 

Total impairment, restructuring and other charges

 

$

141,695

 

 

 

 

 

Total Company impairment, restructuring and other charges

 

$

152,645

 

 

The following footnotes relate to the impairment, restructuring and other charges in Fiscal 2023:

 

(1)
$11.0 million of inventory write-down charges related to the Company's international businesses as further described in paragraph 1 of note (3) below.

 

(2)
$119.6 million of charges related to the Quiet Platforms restructuring. Of this amount, the Company impaired definite lived intangible assets of $40.5 million consisting of $31.2 million of customer relationships and $9.3 million of trade names. The Company also impaired $39.6 million of goodwill and recorded $24.7 million of long-term asset impairment primarily related to technology which is no longer a part of the long-term strategy. All impairments were recorded due to insufficient prospective cash flows to support the asset value, resulting from the restructuring of Quiet Platforms. The Company recorded $9.9 million of severance based on this revised strategy. We also recorded $4.9 million of contract related charges.

 

 

(3)
$10.9 million of charges related to exiting the Japan market, including the closure of all four stores in January 2024, as well as impairment related to our Hong Kong retail operations. Of this amount, $4.7 million related to Japan ROU assets, $3.6 million of Japan store property and equipment, $1.3 million of Hong Kong store ROU assets, and $1.3 million of employee severance. All impairments were recorded due to insufficient prospective cash flows to support the asset values. Additionally, the Company recorded $11.0 million of inventory write-down charges related to restructuring our international operations, which was recorded separately in Cost of Sales and discussed in note (1) above.

 

 

(4)
$11.2 million, consisting of $6.0 million of employee severance related to corporate realignment and other asset impairment of $5.2 million of investments related to further strategic business changes.

 

 

A rollforward of the restructuring liabilities recognized in the Consolidated Balance Sheet is as follows:

 

 

 

 

 

For the year ended

 

 

 

 

 

January 31,

 

(In thousands)

 

 

 

2026

 

Accrued liability as of February 1, 2025

 

 

 

$

7,650

 

Add: Costs incurred, excluding non-cash charges

 

 

 

 

14,897

 

Less: Cash payments and adjustments

 

 

 

 

(9,439

)

Accrued liability as of January 31, 2026

 

 

 

$

13,108

 

 
v3.26.1
Subsequent Events
 12 Months Ended
Jan. 31, 2026
Subsequent Events [Abstract]  
Subsequent Events

16. Subsequent Events

U.S. Tariff Update

On February 20, 2026, the United States Supreme Court issued a ruling striking down certain tariffs previously imposed under the International Emergency Economic Powers Act ("IEEPA"). The Court of International Trade subsequently issued an interim order requiring U.S. Customs and Border Protection ("CBP") to process unliquidated entries without the unlawful tariffs and to develop a plan that could result in refunds of duties previously collected. CBP has indicated it is developing a plan within 45 days to implement that order, however the scope, timing, and ultimate availability of any refunds remains uncertain. While the Company has taken steps to preserve its rights should a refund process be established, no assurance can be given that refunds will be realized. Also following the Supreme Court’s decision, the U.S. presidential administration announced its intention to invoke other laws to collect tariffs and announced new temporary tariffs on imports from all countries, in addition to any existing non-IEEPA tariffs. Those tariffs have now been challenged by over a dozen states. Substantial uncertainty remains regarding the duration of existing and newly announced tariffs, potential changes or pauses to these tariffs, tariff levels, and whether further additional tariffs or other retaliatory actions may be imposed, modified, or suspended. We are also uncertain about the impacts of such actions on the Company's business. We continue to monitor and evaluate these developments and assess their potential impact on our business, financial condition, and results of operations.
v3.26.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Jan. 31, 2026
Accounting Policies [Abstract]  
Principles of Consolidation

Principles of Consolidation

The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries and consolidated entities where the Company's ownership percentage is less than 100%.

Non-controlling interests’ (“NCI”) share of net income (loss) is presented as net income (loss) attributable to NCI on the Consolidated Statements of Operations and Comprehensive Income and the NCI share of stockholders' equity is presented as a component of Total stockholders' equity on the Consolidated Balance Sheets.

Certain prior‑period amounts have been reclassified to conform to the current‑period presentation, including the separate presentation of noncontrolling interests. These reclassifications had no impact on the Company’s operating income, net income attributable to noncontrolling interests, net income per common share attributable to AEO or cash flows.

All intercompany transactions and balances have been eliminated in consolidation. At January 31, 2026, the Company operated in two reportable segments, American Eagle and Aerie.
Fiscal Year

Fiscal Year

Our fiscal year is a 52- or 53-week year that ends on the Saturday nearest to January 31. As used herein, "Fiscal 2028" refers to the 53-week period that will end on February 3, 2029. "Fiscal 2027" refers to the 52-week period that will end on January 29, 2028. "Fiscal 2026" refers to the 52-week period that will end on January 30, 2027. "Fiscal 2025" refers to the 52-week period ended on January 31, 2026. "Fiscal 2024" refers to the 52-week period ended February 1, 2025. "Fiscal 2023" refers to the 53-week period ended February 3, 2024.

Estimates

Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. of America ("GAAP") requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, our management reviews its estimates based on currently available information. Changes in facts and circumstances may result in revised estimates.
Recent Accounting Pronouncements

Recent Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Improvements to Income Tax Disclosures ("ASU 2023-09"), which requires increased transparency in tax disclosures, specifically by expanding requirements for rate reconciliation and income taxes paid information. Additionally, the amendment requires disclosures of income/(loss) from continuing operations before taxes disaggregated between domestic and foreign, and income tax expense/(benefit), disaggregated by federal, state, and foreign. Disclosure requirements about the nature and estimated range of the reasonably possible change in unrecognized tax benefits over the next year have been removed as part of this amendment. The guidance is effective for fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-09 prospectively effective for Fiscal 2025.

Refer to Note 13, Income Taxes, to the Consolidated Financial Statements for additional information regarding Income Taxes.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses ("ASU 2024-03"), which requires disclosure of additional information for specific expense categories in the notes to financial statements for interim and annual periods. Specifically, the amendment requires quantitative disclosure for purchases of inventory, employee compensation, depreciation, and intangible asset amortization within an expense caption. For any remaining amounts within an expense caption, a qualitative description must be included. In all reporting periods, a total selling expense amount must be disclosed, with an annual disclosure of the entity's definition of selling expenses. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company plans to adopt ASU 2024-03 effective for Fiscal 2027.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses ("ASU 2025-05"), which amends the guidance under Topic 326. This amendment provides the option to use a practical expedient to assume balance sheet conditions remain unchanged when developing forecasts for estimating expected credit losses. The guidance is effective for fiscal years beginning after December 15, 2025. The Company plans to adopt ASU 2025-05 effective for Fiscal 2026 and does not expect a material impact to the Consolidated Financial Statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"). The new guidance modernizes accounting for the costs of internal-use software by removing "project stages" from the capitalization process. The guidance is effective for annual periods beginning after December 15, 2027 and interim periods within those years. Early adoption is permitted. The Company plans to adopt ASU 2025-06 effective for Fiscal 2028.

In September 2025, the FASB issued ASU 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606) ("ASU 2025-07"). This amendment clarifies the scope of derivative accounting to exclude nonexchange-traded contracts. The guidance is effective for annual periods beginning after December 15, 2027 and interim periods within those years. Transition may be applied prospectively, or under a modified retrospective approach. The Company plans to early adopt ASU 2025-07 effective for Fiscal 2026, using the modified retrospective approach, and does not expect a material impact to the Consolidated Financial Statements.

Foreign Currency Translation

Foreign Currency Translation

In accordance with Accounting Standard Codification ("ASC") 830, Foreign Currency Matters, the Company translates assets and liabilities denominated in foreign currencies into U.S. dollars ("USD") (the reporting currency) at the exchange rates prevailing at the balance sheet date. The Company translates revenues and expenses denominated in foreign currencies into USD at the monthly average exchange rates for the period. Gains or losses resulting from foreign currency transactions are included in the consolidated results of operations, whereas related translation adjustments are reported as an element of other comprehensive income (loss) in accordance with ASC 220, Comprehensive Income. Refer to Note 10, Accumulated Other Comprehensive Loss, to the Consolidated Financial Statements for information regarding accumulated other comprehensive income (loss).
Cash and Cash Equivalents and Short-term Investments

Cash and Cash Equivalents and Short-term Investments

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Short-term investments classified as available-for-sale include certificates of deposit with an original maturity greater than three months, but less than one year.

Refer to Note 3, Cash and Cash Equivalents and Short-term Investments, to the Consolidated Financial Statements for information regarding cash and cash equivalents, and short-term investments.
Accounts Receivable

Accounts Receivable

The Company's receivables are primarily generated from product sales and royalties from our licensees. Receivables also include amounts due from landlords, including construction allowance and lease incentive receivables, vendors, and governmental authorities, as well as amounts for sell-offs of past season merchandise. The primary indicators of the credit quality of our receivables are aging, payment history, economic sector information and outside credit monitoring, and are assessed on a quarterly basis. Our credit loss exposure is mainly concentrated in our accounts receivable portfolio.

Our allowance for credit losses is calculated using a loss-rate method based on historical experience, current market conditions and reasonable forecasts. For Fiscal 2025, the increase to our reserve primarily related to the deterioration of credit quality for a specific customer.

A rollforward of the activity in the Company's allowance for doubtful accounts is presented below:

 

 

 

Fiscal Years Ending

 

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

 

Beginning balance

 

$

8,879

 

 

$

12,707

 

 

$

2,133

 

 

Amount recorded to expense to increase reserve

 

 

17,284

 

 

 

750

 

 

 

11,944

 

 

Amount written-off against customer accounts to decrease reserve

 

 

(631

)

 

 

(4,578

)

 

 

(1,371

)

 

Ending balance

 

$

25,532

 

 

$

8,879

 

 

$

12,707

 

 
Merchandise Inventory

Merchandise Inventory

Merchandise inventory is valued at the lower of average cost or net realizable value, utilizing the retail method. Average cost includes merchandise design and sourcing costs and related expenses. The Company records merchandise receipts when control of the merchandise has transferred to the Company.

The Company reviews its inventory levels to identify slow-moving merchandise and generally uses markdowns to clear merchandise. Additionally, the Company estimates a markdown reserve for future planned permanent markdowns related to current inventory. Markdowns may occur when inventory exceeds customer demand for reasons of style, seasonal adaptation, changes in customer preference, lack of consumer acceptance of fashion items, or competition, or if it is determined that the inventory in stock will not sell at its currently ticketed price. Such markdowns may have a material adverse impact on earnings, depending on the extent and amount of inventory affected.

The Company also estimates a shrinkage reserve for the period between the last physical count and the balance sheet date. The estimate for the shrinkage reserve, based on historical results, can be affected by changes in merchandise mix and changes in actual shrinkage trends.
Property and Equipment

Property and Equipment

Property and equipment, including assets acquired with finance leases, are recorded on the basis of cost with depreciation computed utilizing the straight-line method over the assets’ estimated useful lives. The useful lives of our major classes of assets are as follows:

 

Buildings

25 years

Leasehold improvements

Lesser of 10 years or the term of the lease

Fixtures and equipment

Five years

Information technology

Three to five years

 

As of January 31, 2026, the weighted average remaining useful life of our assets was approximately six years.

In accordance with ASC 360, Property, Plant, and Equipment ("ASC 360"), the Company’s management evaluates the value of leasehold improvements, store fixtures, and operating lease right-of-use ("ROU") assets associated with retail stores. The Company evaluates long-lived assets for impairment at the individual store level, which is the lowest level at which individual cash flows can be identified. Impairment losses are recorded on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the projected undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts. When events such as these occur, the impaired assets are adjusted to their estimated fair value and an impairment loss is recorded separately as a component of operating income within impairment, restructuring, and other charges in the Consolidated Statements of Operations.

Our impairment loss calculations require management to make assumptions and to apply judgment to estimate future cash flows and asset fair values. The significant assumptions used in our fair value analysis are forecasted revenue and market rent. We do not believe there is a reasonable likelihood that there will be a material change in the estimates or assumptions we use to calculate long-lived asset impairment losses. However, if actual results are not consistent with our estimates and assumptions, our consolidated operating results could be adversely affected.

When the Company closes, remodels, or relocates a store prior to the end of its lease term, the remaining net book value of the assets related to the store is recorded as a write-off of assets within depreciation and amortization expense.

Refer to Note 6, Property and Equipment, Net, to the Consolidated Financial Statements for additional information regarding property and equipment, and refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information regarding impairment charges for Fiscal 2025, Fiscal 2024, and Fiscal 2023.
Goodwill and Intangible Assets

Goodwill and Intangible Assets

The Company’s goodwill is primarily related to the acquisitions of its regionalized fulfillment center network, as well as its importing operations and Canadian business, and represents the excess of cost over fair value of net assets of businesses acquired. In accordance with ASC 350, Intangibles – Goodwill and Other, the Company evaluates goodwill for possible impairment at least annually as of the last day of the fiscal year and upon occurrence of certain triggering events or substantive changes in circumstances that indicate that the fair value of a reporting unit may be below its carrying value. If the carrying value of the reporting unit exceeds the fair value, an impairment charge is recorded in the period of the evaluation based on that difference. The Company last performed an annual goodwill impairment test as of January 31, 2026. No indicators of impairment were present during Fiscal 2025 or Fiscal 2024. In Fiscal 2023, the Company concluded that the goodwill assigned to the Quiet Platforms reporting unit was impaired, resulting in a charge of $39.6 million recorded within impairment, restructuring and other charges on the Consolidated Statements of Operations, due to insufficient prospective cash flows to support the carrying value of the business. Significant, subjective assumptions used in the Company's fair value estimate included forecasted cost of sales, forecasted operating expense and discount rate.

Definite-lived intangible assets are initially recorded at fair value, with amortization computed utilizing the straight-line method over the assets’ estimated useful lives. The Company’s definite-lived intangible assets, which consist primarily of trademark assets, are generally amortized over 10 to 15 years.

The Company evaluates definite-lived intangible assets for impairment in accordance with ASC 360 when events or circumstances indicate that the carrying value of the asset may not be recoverable. Such an evaluation includes the estimation of undiscounted future cash flows to be generated by those assets. If the sum of the estimated future undiscounted cash flows is less than the carrying amounts of the assets, then the assets are impaired and are adjusted to their estimated fair value. During Fiscal 2025 and Fiscal 2023, the Company recorded a $1.3 million and $40.5 million impairment charge, respectively, within impairment, restructuring, and other charges on the Consolidated Statements of Operations, related to the definite-lived intangible assets of Quiet Platforms, due to insufficient prospective cash flows to support the carrying value of the assets. No definite-lived intangible asset impairment charges were recorded during Fiscal 2024.

Refer to Note 7, Goodwill and Intangible Assets, Net, to the Consolidated Financial Statements for additional information regarding goodwill and intangible assets and refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information regarding impairment charges for Fiscal 2023
Equity Method Investments

Equity Method Investments

During Fiscal 2024, the Company entered into a Limited Partnership Agreement of ACON Apparel Investors, L.P. (the "Fund"), with ACON Apparel GenPar, LLC. ("ACON") as the general partner. The Company paid $35.0 million for a 20% interest for its limited partner position in the Fund, which is recorded in Other Assets in the Consolidated Balance Sheet. Realized and unrealized gains (losses) are included within the Consolidated Statements of Operations as a component of Other (income), net. During Fiscal 2025, the Company recorded a $23.0 million unrealized gain related to its position in the

Fund. During the 13 weeks ended January 31, 2026, the Company received a distribution of $20.9 million related to its position in the Fund.
Construction Allowances

Construction Allowances

As part of certain lease agreements for retail stores, the Company receives construction allowances from lessors, which are generally composed of cash amounts. The Company records a receivable and an adjustment to the operating lease ROU asset at the lease commencement date (date of initial possession of the store). The deferred lease credit is amortized as part of the single lease cost over the term of the original lease (including the pre-opening build-out period). The receivable is reduced as amounts are received from the lessor.
Self-Insurance Liability

Self-Insurance Liability

The Company uses a combination of insurance and self-insurance mechanisms for certain losses related to employee medical benefits and worker’s compensation. Costs for self-insurance claims filed and claims incurred but not reported are accrued based on known claims and historical experience. Management believes that it has adequately reserved for its self-insurance liability, which is capped by stop-loss contracts with insurance companies. However, any significant variation of future claims from historical trends could cause actual results to differ from the accrued liability.
Leases

Leases

In accordance with the provisions of ASC 842, Leases ("ASC 842"), the Company accounts for its leases, both operating and finance, by recognizing initial ROU assets and lease liabilities measured at the present value of lease payments to be made over the lease term.

 

Refer to Note 9, Leases, to the Consolidated Financial Statements for additional information.
Co-Branded and Private Label Credit Cards

Co-Branded and Private Label Credit Cards

The Company offers a co-branded credit card and a private-label credit card under the AE and Aerie brands. These credit cards are issued by a third-party bank (the "Bank") in accordance with a credit card agreement (the "Agreement"). The Company has no liability to the Bank for bad debt expense, provided that purchases are made in accordance with the Bank’s procedures. We receive funding from the Bank based on the Agreement and card activity, which includes payments for new account activations and usage of the credit cards. We recognize revenue for this funding as we fulfill our performance obligations under the Agreement. This revenue is recorded in other revenue, which is a component of total net revenue in our Consolidated Statements of Operations.
Customer Loyalty Program

Customer Loyalty Program

The Company offers a highly digitized loyalty program called Real Rewards by American Eagle and Aerie™ (the "Program"). The Program features a variety of benefits for loyalty members and credit card members. Under the Program, members accumulate points based on purchase activity and earn rewards by reaching certain point thresholds. Members earn dollar rewards in the form of discount savings certificates. Rewards earned are valid through the stated expiration date, which is 60 days from the issuance date of the reward. Rewards not redeemed during the 60-day redemption period are forfeited.

Points earned under the Program on purchases at AE and Aerie are accounted for in accordance with ASC 606, Revenue from Contracts with Customers ("ASC 606"). The portion of the sales revenue attributed to the reward points is deferred and recognized when the reward is redeemed or when the points expire, using the relative stand-alone selling price method. Additionally, reward points earned using the co-branded credit card on non-AE or Aerie purchases are accounted for in accordance with ASC 606. As the points are earned, a current liability is recorded for the estimated cost of the reward, and the impact of adjustments is recorded in revenue.

The Company defers a portion of the sales revenue attributed to the loyalty points and recognizes revenue when the points are redeemed or expire, consistent with the requirements of ASC 606.
Sales Return Reserve

Sales Return Reserve

Revenue is recorded net of estimated and actual sales returns and deductions for coupon redemptions and other promotions. The Company records the impact of adjustments to its sales return reserve quarterly within total net revenue and cost of sales. The sales return reserve reflects an estimate of sales returns based on projected merchandise returns determined using historical average return percentages.

 

 

 

Fiscal Years Ending

 

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

 

Beginning balance

 

$

9,676

 

 

$

10,766

 

 

$

10,369

 

 

Returns

 

 

(165,492

)

 

 

(161,891

)

 

 

(161,833

)

 

Provisions

 

 

166,818

 

 

 

160,801

 

 

 

162,230

 

 

Ending balance

 

$

11,002

 

 

$

9,676

 

 

$

10,766

 

 

 

The presentation on a gross basis consists of a separate right of return asset and liability. These amounts are recorded within (i) other current assets and (ii) other current liabilities and accrued expenses, respectively, on the Consolidated Balance Sheets.
Long-Term Debt

Long-Term Debt

In April 2020, the Company issued $415 million aggregate principal amount of convertible senior notes due 2025 (the "2025 Notes"). In accordance with ASU 2020-06, Debt with Conversion and Other Options (“ASU 2020-06”), the 2025 Notes were accounted for as a single balance in long-term debt beginning in Fiscal 2022, and until their final redemption in Fiscal 2023.

In June 2022, the Company entered into an amended and restated credit agreement (the "Credit Agreement"). The Credit Agreement provides senior secured asset-based revolving credit for loans and letters of credit up to $700 million, subject to customary borrowing base limitations (the "Credit Facility"). The Credit Facility expires in June 2027.

Refer to Note 8, Long-Term Debt, Net, to the Consolidated Financial Statements for additional information regarding Long-Term Debt.

Income Taxes

Income Taxes

The Company calculates income taxes in accordance with ASC 740, Income Taxes ("ASC 740"), which requires the use of the liability method. Under this method, deferred tax assets and liabilities are recognized based on the difference between the Consolidated Financial Statements carrying amounts of existing assets and liabilities and their respective tax bases as computed pursuant to ASC 740. Deferred tax assets and liabilities are measured using the tax rates, based on certain judgments regarding enacted tax laws and published guidance in effect in the years when those temporary differences are expected to reverse. A valuation allowance is established against the deferred tax assets when it is more likely than not that some portion or all of the deferred taxes may not be realized. Changes in the Company’s level and composition of earnings, tax laws or the deferred tax valuation allowance, as well as the results of tax audits may materially impact the Company’s effective income tax rate.

The Company evaluates its income tax positions in accordance with ASC 740, which prescribes a comprehensive model for recognizing, measuring, presenting and disclosing in the financial statements tax positions taken or expected to be taken on a tax return, including a decision whether to file or not to file in a particular jurisdiction. Under ASC 740, a tax benefit from an uncertain position may be recognized only if it is "more likely than not" that the position is sustainable based on its technical merits.

The calculation of deferred tax assets and liabilities, as well as the decision to recognize a tax benefit from an uncertain position and to establish a valuation allowance requires management to make estimates and assumptions. The Company believes that its estimates and assumptions are reasonable, although actual results may have a positive or negative material impact on the balances of deferred tax assets and liabilities, valuation allowances or net income.

In Fiscal 2025, the Company adopted ASU 2023-09 which requires enhanced disaggregation in the rate reconciliation and expanded disclosure of income taxes paid by jurisdiction. The Company adopted this standard on a prospective basis; accordingly, the newly required disaggregated disclosures are provided for in the current fiscal period, while prior-period comparative disclosures have not been retrospectively adjusted.

Refer to Note 13, Income Taxes, to the Consolidated Financial Statements for additional information.
Accelerated Share Repurchase Agreement

Accelerated Share Repurchase Agreement

On March 14, 2025, the Company entered into an accelerated share repurchase agreement (the "ASR Agreement") with Bank of America, N.A. ("Bank of America") to repurchase an aggregate of $200 million of the Company’s common stock.

Pursuant to the terms of the ASR Agreement, on March 17, 2025, the Company made an aggregate payment of $200 million to Bank of America and received an aggregate initial delivery of approximately 14.5 million shares of its common stock. At final settlement on June 16, 2025, the Company received an additional 3.9 million shares. The cumulative repurchases under the ASR Agreement totaled 18.4 million shares, in the aggregate, at an average price of $10.86 per share.

Revenue Recognition

Revenue Recognition

The Company recognizes revenue pursuant to ASC 606. Revenue is recorded for store sales upon the purchase of merchandise by customers. The Company’s e-commerce operation records revenue upon the customer receipt date of the merchandise. Shipping and handling revenues are included in total net revenue. Sales tax collected from customers is excluded from revenue and is included as part of accrued income and other taxes on the Company’s Consolidated Balance Sheets.

The Company recognizes royalty revenue generated from its license or franchise agreements based on a percentage of merchandise sales by the licensee/franchisee. This revenue is recorded as a component of total net revenue when earned and collection is probable.

The Company defers a portion of the sales revenue attributed to loyalty points and recognizes revenue when the points are redeemed or expire, consistent with the requirements of ASC 606. Refer to "Customer Loyalty Program" above for additional information.

Revenue associated with Quiet Platforms is recognized as the services are performed.
Cost of Sales, Including Certain Buying, Occupancy and Warehousing Expenses

Cost of Sales, Including Certain Buying, Occupancy, and Warehousing Expenses

Cost of sales consists of merchandise costs, including design costs, sourcing, importing and inbound freight costs, as well as markdowns, shrinkage and certain promotional costs (collectively, "merchandise costs"); Quiet Platforms' costs to service its customers; and buying, occupancy and warehousing costs and services.

Design costs are related to the Company's design center operations and include compensation, travel and entertainment, supplies and samples for our design teams, as well as rent and depreciation for our design center. These costs are included in cost of sales as the respective inventory is sold.

Buying, occupancy and warehousing costs and services consist of compensation, employee benefit expenses and travel and entertainment for our buyers and certain senior merchandising executives; rent and utilities related to our stores, corporate headquarters, distribution centers and other office space; freight from our distribution centers to the stores; compensation and supplies for our distribution centers, including purchasing, receiving and inspection costs; and shipping and handling costs related to our e-commerce operation. Gross profit is the difference between total net revenue and cost of sales.
Selling, General and Administrative Expenses

Selling, General, and Administrative Expenses

Selling, general and administrative expenses consist of compensation and employee benefit expenses, including salaries, incentives and related benefits associated with our stores and corporate headquarters. Selling, general and administrative expenses also include advertising costs, supplies for our stores and home office, communication costs, travel and entertainment, leasing costs and services purchased.

Selling, general and administrative expenses do not include compensation, employee benefit expenses and travel for our design, sourcing and importing teams, our buyers and our distribution centers as these amounts are recorded in cost of sales. Additionally, selling, general and administrative expenses do not include rent and utilities, operating costs of our distribution centers, and shipping and handling costs related to our e-commerce operations, all of which are included in cost of sales.
Advertising Costs

Advertising Costs

Certain advertising costs, including direct mail, in-store photographs, and other promotional costs are expensed when the marketing campaign commences. As of January 31, 2026, the Company had prepaid advertising costs of $17.8 million. As of February 1, 2025, the Company had prepaid advertising expense of $12.1 million. All other advertising costs are expensed as incurred. The Company recognized $251.3 million, $206.3 million, and $186.9 million in advertising expense during Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively.
Store Pre-Opening Costs

Store Pre-Opening Costs

Store pre-opening costs consist primarily of rent, advertising, supplies, and payroll expenses. These costs are expensed as incurred.
Interest Expense (Income) , Net

Interest Expense (Income), Net

Interest expense (income), net primarily consists of interest expense from Credit Facility borrowings and interest income from cash and cash equivalents.
Other Income, Net

Other Income, Net

Other income, net consists primarily of foreign currency fluctuations and realized and unrealized gains (losses) on equity method investments.

Legal Proceedings and Claims

Legal Proceedings and Claims

The Company is subject to certain legal proceedings and claims arising out of the conduct of its business. In accordance with ASC 450, Contingencies ("ASC 450"), the Company records a reserve for estimated losses when the loss is probable and the amount can be reasonably estimated. If a range of possible loss exists and no anticipated loss within the range is more likely than any other anticipated loss, the Company records the accrual at the low end of the range, in accordance with ASC 450. As the Company believes that it has provided adequate reserves, it anticipates that the ultimate outcome of any matter currently pending against the Company will not materially affect the consolidated financial position, results of operations or cash flows of the Company. However, our assessment of any litigation or other legal claims could potentially change in light of the discovery of facts not presently known or determinations by judges, juries, or other finders of fact that are not in accord with management’s evaluation of the possible liability or outcome of such litigation or claims.
Supplemental Disclosures of Cash Flow Information

Supplemental Disclosures of Cash Flow Information

The table below shows supplemental cash flow information for cash amounts paid (received) during the respective periods:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Cash paid (received) during the periods for:

 

 

 

 

 

 

 

 

 

Income taxes

 

$

63,249

 

 

$

139,777

 

 

$

31,440

 

Interest

 

$

7,272

 

 

$

1,592

 

 

$

2,494

 

Refer to Note 13, Income Taxes, to the Consolidated Financial Statements for additional information.
Segment Information

Segment Information

The Company has identified two operating segments (American Eagle and Aerie brand) that also represent our reportable segments and reflect our Chief Operating Decision Maker’s ("CODM") (defined as our Chief Executive Officer ("CEO")) internal view of analyzing results and allocating resources. Additionally, our Todd Snyder and Unsubscribed brands and Quiet Platforms have been identified as separate operating segments; however, as they do not meet the quantitative thresholds for separate disclosures they have been included in the Corporate and Other category. For additional information regarding the Company’s segment and geographic information, refer to Note 14, Segment Reporting, to the Consolidated Financial Statements.
Fair Value Measurements

ASC 820, Fair Value Measurement Disclosures ("ASC 820"), defines fair value, establishes a framework for measuring fair value in accordance with GAAP, and expands disclosures about fair value measurements. Fair value is defined under ASC 820 as the exit price associated with the sale of an asset or transfer of a liability in an orderly transaction between market participants at the measurement date.

Financial Instruments

Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. In addition, ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include:

•
Level 1 — Quoted prices in active markets.
•
Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly.
•
Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
v3.26.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 31, 2026
Accounting Policies [Abstract]  
Rollforward of Activity in Allowance for Doubtful Accounts

A rollforward of the activity in the Company's allowance for doubtful accounts is presented below:

 

 

 

Fiscal Years Ending

 

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

 

Beginning balance

 

$

8,879

 

 

$

12,707

 

 

$

2,133

 

 

Amount recorded to expense to increase reserve

 

 

17,284

 

 

 

750

 

 

 

11,944

 

 

Amount written-off against customer accounts to decrease reserve

 

 

(631

)

 

 

(4,578

)

 

 

(1,371

)

 

Ending balance

 

$

25,532

 

 

$

8,879

 

 

$

12,707

 

 
Useful Lives of Major Classes of Assets The useful lives of our major classes of assets are as follows:

 

Buildings

25 years

Leasehold improvements

Lesser of 10 years or the term of the lease

Fixtures and equipment

Five years

Information technology

Three to five years
Sales Return Reserve The sales return reserve reflects an estimate of sales returns based on projected merchandise returns determined using historical average return percentages.

 

 

 

Fiscal Years Ending

 

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

 

Beginning balance

 

$

9,676

 

 

$

10,766

 

 

$

10,369

 

 

Returns

 

 

(165,492

)

 

 

(161,891

)

 

 

(161,833

)

 

Provisions

 

 

166,818

 

 

 

160,801

 

 

 

162,230

 

 

Ending balance

 

$

11,002

 

 

$

9,676

 

 

$

10,766

 

 

 
Supplemental Cash Flow Information for Cash Amounts (Received) Paid

The table below shows supplemental cash flow information for cash amounts paid (received) during the respective periods:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Cash paid (received) during the periods for:

 

 

 

 

 

 

 

 

 

Income taxes

 

$

63,249

 

 

$

139,777

 

 

$

31,440

 

Interest

 

$

7,272

 

 

$

1,592

 

 

$

2,494

 
v3.26.1
Cash and Cash Equivalents and Short-term Investments (Tables)
 12 Months Ended
Jan. 31, 2026
Cash and Cash Equivalents [Abstract]  
Fair Market Value of Cash, Cash Equivalents, and Short-term Investments

The following table summarizes the fair market value of our cash, cash equivalents, and short-term investments, which are recorded on the Consolidated Balance Sheets:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

(In thousands)

 

2026

 

 

2025

 

Cash and cash equivalents:

 

 

 

 

 

 

Cash

 

$

183,406

 

 

$

150,053

 

Interest-bearing deposits

 

$

55,517

 

 

$

158,909

 

Total cash and cash equivalents

 

$

238,923

 

 

$

308,962

 

Short-term investments:

 

 

 

 

 

 

Certificates of deposits

 

$

-

 

 

$

50,000

 

Total short-term investments

 

$

-

 

 

$

50,000

 

Total cash and short-term investments

 

$

238,923

 

 

$

358,962

 
v3.26.1
Earnings per Share (Tables)
 12 Months Ended
Jan. 31, 2026
Earnings Per Share [Abstract]  
Reconciliation Between Basic and Diluted Weighted Average Shares Outstanding The following is a reconciliation between basic and diluted weighted average shares outstanding:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income attributable to AEO and numerator for basic EPS

 

$

191,983

 

 

$

329,380

 

 

$

170,038

 

Add: Interest expense, net of tax, related to the 2025 Notes (1)

 

 

—

 

 

 

—

 

 

 

58

 

Numerator for diluted EPS

 

$

191,983

 

 

$

329,380

 

 

$

170,096

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Denominator for basic EPS - weighted average shares

 

 

172,165

 

 

 

193,056

 

 

 

195,646

 

Add: Dilutive effect of the 2025 Notes (1)

 

 

—

 

 

 

—

 

 

 

205

 

Add: Dilutive effect of stock options and non-vested restricted stock

 

 

3,976

 

 

 

3,356

 

 

 

1,012

 

Denominator for diluted EPS - adjusted weighted average shares

 

 

176,141

 

 

 

196,412

 

 

 

196,863

 

Anti-dilutive shares (2)

 

 

3,128

 

 

 

500

 

 

 

1,289

 

 

(1)
In accordance with ASU 2020-06, the Company utilizes the "if-converted" method of calculating diluted EPS.
(2)
For all periods presented, anti-dilutive shares relate to stock options and unvested restricted stock.
v3.26.1
Property and Equipment, net (Tables)
 12 Months Ended
Jan. 31, 2026
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

Property and equipment, net consists of the following:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

(In thousands)

 

2026

 

 

2025

 

Land

 

$

17,910

 

 

$

17,910

 

Buildings

 

 

228,633

 

 

 

228,390

 

Leasehold improvements

 

 

954,697

 

 

 

890,155

 

Fixtures and equipment

 

 

1,405,678

 

 

 

1,432,344

 

Construction in progress

 

 

102,027

 

 

 

2,486

 

Property and equipment, at cost

 

$

2,708,945

 

 

$

2,571,285

 

Less: Accumulated depreciation

 

 

(1,923,323

)

 

 

(1,820,021

)

Property and equipment, net

 

$

785,622

 

 

$

751,264

 
Depreciation Expense

Depreciation expense is as follows:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Depreciation expense

 

$

215,710

 

 

$

216,093

 

 

$

230,833

 
v3.26.1
Goodwill and Intangible Assets, net (Tables)
 12 Months Ended
Jan. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Definite-lived intangible assets, net

Goodwill and definite-lived intangible assets, net consist of the following:

 

 

 

Fiscal Years Ending

 

 

 

January 31, 2026

 

 

February 1, 2025

 

(In thousands)

 

American Eagle

 

 

Aerie

 

 

Total

 

 

American Eagle

 

 

Aerie

 

 

Total

 

Goodwill, beginning balance(1)

 

$

114,479

 

 

$

110,600

 

 

$

225,079

 

 

$

114,703

 

 

$

110,600

 

 

$

225,303

 

Foreign currency fluctuation

 

 

190

 

 

 

 

 

 

190

 

 

 

(224

)

 

 

 

 

 

(224

)

Goodwill, ending balance

 

$

114,669

 

 

$

110,600

 

 

$

225,269

 

 

$

114,479

 

 

$

110,600

 

 

$

225,079

 

 

(1)
Beginning balances include accumulated impairment of $43.8 million for both January 31, 2026 and February 1, 2025.

 

 

 

Fiscal Year Ending January 31, 2026

 

 

 

Intangible assets,

 

 

Accumulated

 

 

Accumulated

 

 

Intangible assets,

 

(In thousands)

 

gross

 

 

amortization

 

 

impairment (1)

 

 

net

 

Trademarks

 

$

96,468

 

 

$

(59,000

)

 

$

-

 

 

$

37,468

 

Trade names

 

 

12,500

 

 

 

(1,826

)

 

 

(10,674

)

 

 

-

 

Customer relationships

 

 

39,000

 

 

 

(7,800

)

 

 

(31,200

)

 

 

-

 

Total intangible assets

 

$

147,968

 

 

$

(68,626

)

 

$

(41,874

)

 

$

37,468

 

 

 

(1)
Accumulated impairment includes $1.3 million related to Quiet Platforms trade names recorded in Fiscal 2025, and $31.2 million of customer relationships and $9.3 million of trade names related to Quiet Platforms recorded in Fiscal 2023.

 

 

 

Fiscal Year Ending February 1, 2025

 

 

 

Intangible assets,

 

 

Accumulated

 

 

Accumulated

 

 

Intangible assets,

 

(In thousands)

 

gross

 

 

amortization

 

 

impairment (1)

 

 

net

 

Trademarks

 

$

95,856

 

 

$

(54,791

)

 

$

-

 

 

$

41,065

 

Trade names

 

 

12,500

 

 

 

(1,783

)

 

 

(9,333

)

 

 

1,384

 

Customer relationships

 

 

39,000

 

 

 

(7,800

)

 

 

(31,200

)

 

 

-

 

Total intangible assets

 

$

147,356

 

 

$

(64,374

)

 

$

(40,533

)

 

$

42,449

 

 

(1)
Accumulated impairment includes $31.2 million of customer relationships and $9.3 million of trade names related to Quiet Platforms recorded in Fiscal 2023.
Amortization Expense

Amortization expense is as follows:

 

 

 

Fiscal Years Ending

 

(In thousands)

 

January 31, 2026

 

 

February 1, 2025

 

 

February 3, 2024

 

Amortization expense

 

$

4,324

 

 

$

4,432

 

 

$

8,748

 
Estimated Future Amortization Expense

The table below summarizes the estimated future amortization expense for intangible assets existing as of January 31, 2026 for the next five fiscal years:

 

 

 

Future

 

 

(In thousands)

 

Amortization

 

 

2026

 

$

3,949

 

 

2027

 

$

3,877

 

 

2028

 

$

3,851

 

 

2029

 

$

3,671

 

 

2030

 

$

3,506

 

 
v3.26.1
Leases (Tables)
 12 Months Ended
Jan. 31, 2026
Leases [Abstract]  
Summary of Finance Lease Classification

Finance Lease Classification

January 31, 2026

 

February 1, 2025

 

Assets

 

 

 

 

 

Finance leases

Property and equipment, at cost, net of accumulated depreciation (1)

$

45,454

 

$

37,979

 

Liabilities

 

 

 

 

 

Current

 

 

 

 

 

Finance leases

Other current liabilities and accrued expenses

 

12,901

 

 

11,303

 

Non-current

 

 

 

 

 

Finance leases

Other non-current liabilities

 

28,884

 

 

23,228

 

Total finance lease liabilities

$

41,785

 

$

34,531

 

 

(1) Finance lease assets are recorded net of accumulated depreciation of $20.3 million and $13.1 million as of January 31, 2026 and February 1, 2025, respectively.
Summary of Expense Categories and Cash Payments for Operating Leases, Average Remaining Lease Term and Discount Rate

The following table summarizes expense categories and cash payments for operating and finance leases during the period. It also includes the total non-cash transaction activity for new operating and finance lease assets and related lease liabilities entered into during the period.

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

February 1,

 

February 3,

 

(In thousands)

 

2026

 

2025

 

2024

 

Lease costs

 

 

 

 

 

 

 

Operating lease costs

 

 

 

 

 

 

 

Single lease costs

 

$

412,217

 

$

387,560

 

$

335,420

 

Variable lease costs

 

 

110,949

 

 

115,010

 

 

121,061

 

Short-term leases and other lease costs

 

 

9,716

 

 

2,281

 

 

45,411

 

 

 

 

 

 

 

 

 

Finance lease costs

 

 

 

 

 

 

 

Depreciation of leased assets

 

 

10,499

 

 

7,016

 

 

1,894

 

Interest on lease liabilities

 

 

819

 

 

112

 

 

91

 

Total lease costs

 

$

544,200

 

$

511,979

 

$

503,877

 

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

Operating cash flows for operating leases

 

$

(423,460

)

$

(387,560

)

$

(403,355

)

Operating cash flows for finance leases

 

 

(819

)

 

(112

)

 

(91

)

Financing cash flows for finance leases

 

 

(3,857

)

 

(4,073

)

 

(668

)

 

 

 

 

 

 

 

 

New operating lease ROU assets entered into during the period

 

 

598,390

 

 

559,750

 

 

153,236

 

New finance leases entered into during the period

 

 

18,785

 

 

31,407

 

 

13,018

 

 

The following table contains the average remaining lease term and discount rate, weighted by outstanding operating and finance lease liabilities as of the end of the period:

 

Lease term and discount rate

 

January 31, 2026

February 1, 2025

Weighted-average remaining lease term

 

 

 

Operating leases

 

7 years

7 years

Finance leases

 

6 years

3 years

Weighted-average discount rate

 

 

 

Operating leases

 

5.5%

5.2%

Finance leases

 

5.6%

5.8%
Summary of Maturity Analysis of Operating Leases and Finance Leases

The table below is a maturity analysis of the operating and finance leases in effect as of the end of the period. Undiscounted cash flows for short-term leases are not material for the periods reported and are excluded from the table below:

 

 

 

Undiscounted cash flows

 

 

 

January 31, 2026

 

(In thousands)

 

Operating Leases

 

Finance Leases

 

Total

 

Fiscal years:

 

 

 

 

 

 

 

2026

 

 

370,253

 

 

12,716

 

 

382,969

 

2027

 

 

363,667

 

 

12,521

 

 

376,188

 

2028

 

 

315,024

 

 

11,573

 

 

326,597

 

2029

 

 

253,604

 

 

4,276

 

 

257,880

 

2030

 

 

184,021

 

 

4,274

 

 

188,295

 

Thereafter

 

 

749,190

 

 

1,068

 

 

750,258

 

Total undiscounted cash flows

 

$

2,235,759

 

$

46,428

 

$

2,282,187

 

Less: discount on lease liability

 

 

(535,436

)

 

(4,643

)

 

(540,079

)

Total lease liability

 

$

1,700,323

 

$

41,785

 

$

1,742,108

 
v3.26.1
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Jan. 31, 2026
Equity [Abstract]  
Accumulated Balances of Other Comprehensive Loss

The accumulated balances of other comprehensive loss included as part of the Consolidated Statements of Stockholders’ Equity follow:

 

Accumulated

 

 

Other

 

 

Comprehensive

 

(In thousands)

Loss

 

Balance at January 28, 2023

$

(32,630

)

Foreign currency translation gain (1)

 

17,911

 

Loss on long-term intra-entity foreign currency transactions

 

(1,691

)

Balance at February 3, 2024

$

(16,410

)

Foreign currency translation (loss) (1)

$

(41,493

)

Gain on long-term intra-entity foreign currency transactions

$

1,513

 

Balance at February 1, 2025

$

(56,390

)

Foreign currency translation gain (1)

$

40,804

 

Balance at January 31, 2026

$

(15,586

)

 

(1)
Foreign currency translation adjustments are not adjusted for income taxes as they relate to a permanent investment in a subsidiary.
v3.26.1
Share-Based Payments (Tables)
 12 Months Ended
Jan. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

A summary of the Company’s stock option activity for Fiscal 2025 follows:

 

 

 

Fiscal Year Ending January 31, 2026

 

 

 

 

 

 

Weighted-
Average

 

 

Weighted-
Average
Remaining
Contractual

 

 

Aggregate
Intrinsic

 

 

 

Options

 

 

Exercise Price

 

 

Term

 

 

Value

 

 

 

(In thousands)

 

 

 

 

 

(In years)

 

 

(In thousands)

 

Outstanding - February 1, 2025

 

 

4,324

 

 

$

17.98

 

 

 

 

 

 

 

Granted

 

 

1,343

 

 

 

12.59

 

 

 

 

 

 

 

Exercised (1)

 

 

(598

)

 

 

15.55

 

 

 

 

 

 

 

Cancelled

 

 

(526

)

 

 

21.14

 

 

 

 

 

 

 

Outstanding - January 31, 2026

 

 

4,543

 

 

$

16.34

 

 

 

3.8

 

 

$

35,658

 

Vested and expected to vest - January 31, 2026

 

 

4,384

 

 

$

16.28

 

 

 

3.6

 

 

$

35,503

 

Exercisable - January 31, 2026 (2)

 

 

2,066

 

 

$

14.50

 

 

 

2.5

 

 

$

18,213

 

 

(1)
Options exercised during Fiscal 2025 ranged in price from $8.62 to $24.37.
(2)
Options exercisable represent "in-the-money" vested options based upon the weighted average exercise price of vested options compared to the Company’s stock price on January 31, 2026.
Black-Scholes Option Valuation Assumptions

The fair value of stock options was estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions:

 

 

 

Fiscal Years Ending

 

 

January 31,

 

February 1,

Black-Scholes Option Valuation Assumptions

 

2026

 

2025

Risk-free interest rate (1)

 

3.9%

 

4.4%

Dividend yield

 

3.5%

 

1.9%

Volatility factor (2)

 

47.5%

 

55.4%

Weighted-average expected term (3)

 

4.5 years

 

4.5 years

 

 

(1)
Based on the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected life of our stock options.
(2)
Based on the historical volatility of the Company’s common stock.
(3)
Represents the period that options are expected to be outstanding. The weighted average expected option terms were determined based on historical experience.
Summary of Restricted Stock Activity

A summary of the activity of the Company’s restricted stock is presented in the following tables:

 

 

 

Time-Based Restricted Stock Units

 

 

Performance-
Based Restricted Stock Units

 

 

 

Fiscal Year Ending

 

 

Fiscal Year Ending

 

 

 

January 31, 2026

 

 

January 31, 2026

 

(Shares in thousands)

 

Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

 

Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Non-vested - February 1, 2025

 

 

2,360

 

 

$

18.56

 

 

 

2,218

 

 

$

18.05

 

Granted

 

 

2,109

 

 

 

12.68

 

 

 

1,096

 

 

 

14.53

 

Vested

 

 

(1,200

)

 

 

17.38

 

 

 

(563

)

 

 

19.69

 

Cancelled

 

 

(275

)

 

 

16.04

 

 

 

(307

)

 

 

18.61

 

Non-vested - January 31, 2026

 

 

2,994

 

 

$

15.12

 

 

 

2,444

 

 

$

16.02

 

 
v3.26.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2026
Income Tax Disclosure [Abstract]  
Components of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes are:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

U.S.

 

$

235,256

 

 

$

453,098

 

 

$

208,283

 

Foreign

 

 

14,132

 

 

 

(13,341

)

 

 

30,633

 

Total

 

$

249,388

 

 

$

439,757

 

 

$

238,916

 
Components of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities are as follows:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

(In thousands)

 

2026

 

 

2025

 

Deferred tax assets:

 

 

 

 

 

 

Operating lease ROU assets

 

$

439,192

 

 

$

361,549

 

Capitalized research and development expenses

 

 

18,638

 

 

 

28,121

 

Accruals not currently deductible

 

 

14,920

 

 

 

10,508

 

Employee compensation and benefits

 

 

13,824

 

 

 

19,820

 

Deferred compensation

 

 

10,756

 

 

 

10,261

 

Net Operating Loss

 

 

10,682

 

 

 

12,470

 

Allowance for Doubtful Accounts

 

 

10,019

 

 

 

2,180

 

Inventories

 

 

6,863

 

 

 

6,231

 

Gift card liability

 

 

6,763

 

 

 

6,239

 

State tax credits

 

 

6,157

 

 

 

6,839

 

Impairment of investments

 

 

4,052

 

 

 

4,659

 

Other long-term assets

 

 

2,479

 

 

 

8,145

 

Other

 

 

1,196

 

 

 

1,136

 

Foreign tax credits

 

 

955

 

 

 

955

 

Gross deferred tax assets

 

$

546,496

 

 

$

479,113

 

Valuation allowance

 

 

(21,959

)

 

 

(18,998

)

Total deferred tax assets

 

$

524,537

 

 

$

460,115

 

Deferred tax liabilities:

 

 

 

 

 

 

Operating lease liabilities

 

$

(383,520

)

 

$

(319,488

)

Property and equipment

 

 

(45,446

)

 

 

(64,429

)

Prepaid expenses

 

 

(7,320

)

 

 

(5,561

)

Goodwill

 

 

(1,914

)

 

 

(1,937

)

Other

 

 

(805

)

 

 

(542

)

Total deferred tax liabilities

 

$

(439,005

)

 

$

(391,957

)

Total deferred tax assets, net

 

$

85,532

 

 

$

68,158

 
Components of Provision (Benefit) for Income Taxes

Significant components of the provision (benefit) for income taxes are as follows:

 

 

 

Fiscal Years Ending

 


 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$

39,520

 

 

$

32,249

 

 

$

66,112

 

Foreign taxes

 

 

20,556

 

 

 

52,224

 

 

 

27,958

 

State

 

 

16,621

 

 

 

18,633

 

 

 

19,206

 

Total current

 

 

76,697

 

 

 

103,106

 

 

 

113,276

 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

$

(4,917

)

 

$

9,940

 

 

$

(31,602

)

Foreign taxes

 

 

(3,762

)

 

 

(3,766

)

 

 

(6,317

)

State

 

 

(4,152

)

 

 

3,574

 

 

 

(5,537

)

Total deferred

 

 

(12,831

)

 

 

9,748

 

 

 

(43,456

)

Provision for income taxes

 

$

63,866

 

 

$

112,854

 

 

$

69,820

 
Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to our unrecognized tax benefits:

 

 

 

Fiscal Years Ending

 


 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Unrecognized tax benefits, beginning of the year
   balance

 

$

9,834

 

 

$

3,974

 

 

$

2,478

 

Increases in current period tax positions

 

 

165

 

 

 

157

 

 

 

2,371

 

Increases in tax positions of prior periods

 

 

1,668

 

 

 

16,428

 

 

 

10

 

Settlements

 

 

(3,615

)

 

 

(10,620

)

 

 

(275

)

Lapse of statute of limitations

 

 

(78

)

 

 

(73

)

 

 

(75

)

Decreases in tax positions of prior periods

 

 

(33

)

 

 

(32

)

 

 

(535

)

Unrecognized tax benefits, end of the year balance

 

$

7,941

 

 

$

9,834

 

 

$

3,974

 

 
Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax Rate

A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to the income before income taxes after the adoption of ASU 2023-09 is as follows:

 

 

Fiscal Years Ending

 

January 31,

 

2026

Disclosure Category

(In thousands)

 

Percent

U.S. Federal Statutory Tax Rate

$

52,371

 

21.0%

State and Local Income Tax, Net of Federal (National) Income Tax Effect*

 

8,375

 

3.4%

Foreign Tax Effects

 

 

 

   Mexico

 

 

      Inflation

 

(2,768

)

-1.1%

      Withholding Tax

 

7,916

 

3.2%

      Other

 

2,310

 

0.9%

   Netherlands

 

 

      Changes in Valuation Allowances

 

4,415

 

1.8%

      Other

 

(1,621

)

-0.7%

   Other Jurisdictions

 

3,642

 

1.5%

Effect of Changes in Tax Laws or Rates Enacted in the Current Period

 

-

 

0.0%

Effect of Cross-Border Tax Laws

 

 

      Foreign Derived Intangible Income

 

(6,448

)

-2.6%

      Other

 

57

 

0.0%

Tax Credits

 

 

      Foreign Tax Credit

 

(12,472

)

-5.0%

      Other

 

(1,540

)

-0.6%

Changes in Valuation Allowances

 

-

 

0.0%

Nontaxable or Nondeductible Items

 

 

      Nondeductible compensation

 

4,284

 

1.7%

      Other

 

2,443

 

1.0%

Changes in Unrecognized Tax Benefits

 

1,936

 

0.8%

Other Adjustments

 

966

 

0.3%

Effective Tax Rate

$

63,866

 

25.6%

 

*State taxes in New York, California, New Jersey, Massachusetts made up the majority (greater than 50 percent) of the tax effect in this category.

 

A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to the income before income taxes prior to the adoption of ASU 2023-09 is as follows:

 

 

 

Fiscal Years Ending

 

 

 

 

February 1,

 

 

February 3,

 

 

 

 

2025

 

 

2024

 

 

Federal income tax rate

 

 

21.0

%

 

 

21.0

%

 

State income taxes, net of federal income tax effect

 

 

3.7

 

 

 

4.4

 

 

Foreign rate differential

 

 

0.8

 

 

 

0.3

 

 

International provisions of Tax Act

 

 

(1.3

)

 

 

(2.2

)

 

Valuation allowance changes, net

 

 

0.7

 

 

 

0.5

 

 

Non-deductible executive compensation

 

 

1.3

 

 

 

3.8

 

 

Change in unrecognized tax benefits

 

 

0.7

 

 

 

0.8

 

 

Share Based Payments

 

 

(0.5

)

 

 

0.2

 

 

Non-deductible goodwill

 

 

0.0

 

 

 

3.5

 

 

Federal Credits

 

 

(0.8

)

 

 

(2.1

)

 

Other

 

 

0.1

 

 

 

(1.0

)

 

 

 

 

25.7

%

 

 

29.2

%

 
Schedule of Cash Income Taxes Paid

The amounts of cash income taxes paid by the Company were as follows:

 

 

Fiscal Year Ending

 

 

January 31,

 

 

2026

 

Jurisdictions

(In thousands)

 

Federal Taxes

 

 United States

$

26,609

 

State Taxes

 

 PA

 

3,752

 

 Other State Jurisdictions

 

12,630

 

Foreign Taxes

 

 Canada

 

3,771

 

 Mexico

 

11,867

 

 Other Foreign Jurisdictions

 

4,620

 

Total Cash Taxes Paid (net of refunds)

$

63,249

 
v3.26.1
Segment Reporting (Tables)
 12 Months Ended
Jan. 31, 2026
Segment Reporting [Abstract]  
Summary of Reportable Segment Information

Reportable segment information is presented in the following table:

For the year ended January 31, 2026 (In thousands)

 

American Eagle

 

 

Aerie

 

 

Other

 

 

Intersegment Elimination

 

 

Total

 

Net Revenue

 

$

3,411,237

 

 

$

1,940,924

 

 

$

226,027

 

 

$

(30,952

)

 

$

5,547,236

 

Cost of sales, including certain buying, occupancy and warehousing costs

 

 

2,116,039

 

 

 

1,156,194

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

756,038

 

 

 

379,282

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

84,047

 

 

 

59,574

 

 

 

 

 

 

 

 

 

 

Total segment operating income

 

$

455,113

 

 

$

345,874

 

 

$

(44,379

)

 

$

-

 

 

$

756,608

 

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(428,783

)

Impairment, restructuring and other charges (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(101,603

)

Total operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

226,222

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,112

 

Other (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(27,278

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

249,388

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended February 1, 2025 (In thousands)

 

American Eagle

 

 

Aerie

 

 

Other

 

 

Intersegment Elimination

 

 

Total

 

Net Revenue

 

$

3,385,231

 

 

$

1,738,414

 

 

$

243,907

 

 

$

(38,900

)

 

$

5,328,652

 

Cost of sales, including certain buying, occupancy and warehousing costs

 

 

1,976,914

 

 

 

1,018,418

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

727,590

 

 

 

345,054

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

74,220

 

 

 

59,097

 

 

 

 

 

 

 

 

 

 

Total segment operating income

 

$

606,507

 

 

$

315,845

 

 

$

(53,722

)

 

$

-

 

 

$

868,630

 

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(423,766

)

Impairment, restructuring and other charges (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(17,561

)

Total operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

427,303

 

Interest (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7,769

)

Other (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(4,685

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

439,757

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended February 3, 2024 (In thousands)

 

American Eagle

 

 

Aerie

 

 

Other

 

 

Intersegment Elimination

 

 

Total

 

Net Revenue

 

$

3,361,579

 

 

$

1,670,000

 

 

$

489,056

 

 

$

(258,865

)

 

$

5,261,770

 

Cost of sales, including certain buying, occupancy and warehousing costs

 

 

1,955,069

 

 

 

1,009,650

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

729,519

 

 

 

323,239

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

77,195

 

 

 

61,249

 

 

 

 

 

 

 

 

 

 

Total segment operating income

 

$

599,796

 

 

$

275,862

 

 

$

(36,124

)

 

$

-

 

 

$

839,534

 

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(464,172

)

Impairment, restructuring and other charges (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(152,645

)

Total operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

222,717

 

Interest (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6,190

)

Other (income), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(10,009

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

238,916

 

 

(1) Refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information.

 

 

Fiscal Years Ending

 

 

January 31, 2026

 

 

February 1, 2025

 

 

February 3, 2024

 

 

 

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

    American Eagle

$

96,816

 

 

$

86,953

 

 

$

61,139

 

    Aerie

 

85,670

 

 

 

68,541

 

 

 

40,746

 

    Other

 

13,766

 

 

 

11,965

 

 

 

32,235

 

   General corporate expenditures

 

64,543

 

 

 

55,079

 

 

 

40,317

 

Total Capital Expenditures

$

260,795

 

 

$

222,538

 

 

$

174,437

 

 
Summary of Geographical Information

The following tables present summarized geographical information:

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

 

February 3,

 

(In thousands)

 

2026

 

 

2025

 

 

2024

 

Total net revenue:

 

 

 

 

 

 

 

 

 

United States

 

$

4,627,201

 

 

$

4,492,630

 

 

$

4,424,345

 

Foreign (1)

 

 

920,035

 

 

 

836,022

 

 

 

837,425

 

Total net revenue

 

$

5,547,236

 

 

$

5,328,652

 

 

$

5,261,770

 

 

(1)
Amounts represent sales from American Eagle and Aerie international retail stores, and e-commerce sales that are billed to and/or shipped to foreign countries and international franchise royalty revenue.

 

 

 

Fiscal Years Ending

 

 

 

January 31,

 

 

February 1,

 

(In thousands)

 

2026

 

 

2025

 

Long-lived assets, net:

 

 

 

 

 

 

United States

 

$

2,052,498

 

 

$

1,887,502

 

Foreign

 

 

183,716

 

 

 

159,162

 

Total long-lived assets, net

 

$

2,236,214

 

 

$

2,046,664

 

v3.26.1
Impairment, Restructuring and Other Charges (Tables)
 12 Months Ended
Jan. 31, 2026
Restructuring and Related Activities [Abstract]  
Schedule of Impairment and Restructuring Charges

The following table represents impairment, restructuring and other charges. All amounts were recorded within impairment, restructuring and other charges on the Consolidated Statements of Operations, unless otherwise noted.

 

 

 

For the year ended

 

 

 

January 31,

 

(In thousands)

 

2026

 

Quiet Platforms (1)

 

 

 

Long-lived asset impairment charges

 

$

50,685

 

Employee severance

 

 

6,365

 

Commercial contract costs

 

 

1,916

 

Corporate and Stores (2)

 

 

 

Long-lived asset impairment charges

 

$

21,308

 

Contract termination costs

 

 

13,799

 

Employee severance

 

 

7,531

 

Total impairment and restructuring charges

 

$

101,603

 

The following footnotes relate to the impairment and restructuring charges recorded in Fiscal 2025:

(1)
The Company recorded $50.7 million of asset impairment charges primarily related to closing Quiet Platforms fulfillment centers as part of its continued supply chain network optimization project. Of this amount, $30.5 million of charges relates to property and equipment, $18.8 million relates to ROU assets, and $1.3 million relates to definite-lived intangible assets. The Company recorded $6.4 million of employee severance, primarily related to closing Quiet Platforms fulfillment centers. Restructuring charges of $1.9 million were also recorded related to exiting third-party contracts.
(2)
The Company recorded $21.3 million of retail store asset impairment charges. Of this amount, $14.6 million relates to ROU assets and $6.7 million relates to property and equipment. All impairments were recorded due to insufficient prospective cash flows to support the asset values. The Company also recorded $13.8 million of impairment charges related to contract termination costs and $7.5 million of employee severance.

 

 

 

 

For the year ended

 

 

 

February 1,

 

(In thousands)

 

2025

 

Corporate restructuring costs (1)

 

 

10,729

 

Hong Kong retail operations impairment and restructuring costs (2)

 

 

6,832

 

Total impairment, restructuring and other charges

 

$

17,561

 

The following footnotes relate to the impairment and restructuring charges recorded in Fiscal 2024:

(1)
The Company recorded restructuring costs of $10.7 million related to employee severance.
(2)
The Company recorded impairment and restructuring costs of $6.8 million related to the sale of the Company's Hong Kong retail operations to a third-party buyer. These costs primarily consist of impairment of $6.4 million and employee severance.

 

 

 

For the year ended

 

 

 

February 3,

 

(In thousands)

 

2024

 

Charges recorded in cost of sales:

 

 

 

       Inventory charges (1)

 

$

10,950

 

 

 

 

 

Charges recorded in operating expenses:

 

 

 

    Quiet Platforms impairment, restructuring and other charges (2)

 

 

119,572

 

International impairment and restructuring costs (3)

 

 

10,882

 

    Corporate impairment and restructuring charges (4)

 

 

11,241

 

Total impairment, restructuring and other charges

 

$

141,695

 

 

 

 

 

Total Company impairment, restructuring and other charges

 

$

152,645

 

 

The following footnotes relate to the impairment, restructuring and other charges in Fiscal 2023:

 

(1)
$11.0 million of inventory write-down charges related to the Company's international businesses as further described in paragraph 1 of note (3) below.

 

(2)
$119.6 million of charges related to the Quiet Platforms restructuring. Of this amount, the Company impaired definite lived intangible assets of $40.5 million consisting of $31.2 million of customer relationships and $9.3 million of trade names. The Company also impaired $39.6 million of goodwill and recorded $24.7 million of long-term asset impairment primarily related to technology which is no longer a part of the long-term strategy. All impairments were recorded due to insufficient prospective cash flows to support the asset value, resulting from the restructuring of Quiet Platforms. The Company recorded $9.9 million of severance based on this revised strategy. We also recorded $4.9 million of contract related charges.

 

 

(3)
$10.9 million of charges related to exiting the Japan market, including the closure of all four stores in January 2024, as well as impairment related to our Hong Kong retail operations. Of this amount, $4.7 million related to Japan ROU assets, $3.6 million of Japan store property and equipment, $1.3 million of Hong Kong store ROU assets, and $1.3 million of employee severance. All impairments were recorded due to insufficient prospective cash flows to support the asset values. Additionally, the Company recorded $11.0 million of inventory write-down charges related to restructuring our international operations, which was recorded separately in Cost of Sales and discussed in note (1) above.

 

 

(4)
$11.2 million, consisting of $6.0 million of employee severance related to corporate realignment and other asset impairment of $5.2 million of investments related to further strategic business changes.
Rollforward of Restructuring Liabilities Recognized in Consolidated Balance Sheet

A rollforward of the restructuring liabilities recognized in the Consolidated Balance Sheet is as follows:

 

 

 

 

 

For the year ended

 

 

 

 

 

January 31,

 

(In thousands)

 

 

 

2026

 

Accrued liability as of February 1, 2025

 

 

 

$

7,650

 

Add: Costs incurred, excluding non-cash charges

 

 

 

 

14,897

 

Less: Cash payments and adjustments

 

 

 

 

(9,439

)

Accrued liability as of January 31, 2026

 

 

 

$

13,108

 

 
v3.26.1
Business Operations - Additional Information (Detail)
Jan. 31, 2026
Store
Country
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of retail stores 1,500
Number of international store locations 300
Number of countries company operates in | Country 90
v3.26.1
Summary of Significant Accounting Policies - Additional Information (Detail)
$ / shares in Units, shares in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Jun. 16, 2025
$ / shares
shares
Mar. 14, 2025
USD ($)
shares
Jun. 30, 2022
USD ($)
Apr. 30, 2020
USD ($)
Jan. 31, 2026
USD ($)
shares
Jan. 31, 2026
USD ($)
Segment
shares
Feb. 01, 2025
USD ($)
shares
Feb. 03, 2024
USD ($)
shares
Mar. 17, 2025
USD ($)
Jan. 28, 2023
USD ($)
Significant Accounting Policies [Line Items]                    
Maximum ownership percentage in consolidated entities and subsidiaries         100.00% 100.00%        
Number of reportable segments | Segment           2        
Allowance for credit losses         $ 25,532,000 $ 25,532,000 $ 8,879,000 $ 12,707,000   $ 2,133,000
Weighted average remaining useful life, assets           6 years        
Asset impairment charges           $ 0 0      
Unrealized gain related to position in fund           23,000,000        
Distribution received relate to position in fund         $ 20,900,000          
Payments for accelerated share repurchase           $ 56,905,000 $ 190,912,000 $ 10,666,000    
Cumulative treasury stock, shares | shares         80,608 80,608 60,948 52,630    
Credit Card Reward Program Description           The Program features a variety of benefits for loyalty members and credit card members. Under the Program, members accumulate points based on purchase activity and earn rewards by reaching certain point thresholds. Members earn dollar rewards in the form of discount savings certificates. Rewards earned are valid through the stated expiration date, which is 60 days from the issuance date of the reward. Rewards not redeemed during the 60-day redemption period are forfeited.        
Prepaid advertising expense         $ 17,800,000 $ 17,800,000 $ 12,100,000      
Advertising expense           251,300,000 206,300,000 $ 186,900,000    
ASR Agreement                    
Significant Accounting Policies [Line Items]                    
Payment made for accelerated share repurchase                 $ 200,000,000  
Number of shares repurchased | shares   14,500                
ASR Agreement | JPM                    
Significant Accounting Policies [Line Items]                    
Number of shares repurchased | shares 18,400                  
Cumulative treasury stock, shares | shares 3,900                  
Shares repurchased price per share | $ / shares $ 10.86                  
ASR Agreement | Bank of America                    
Significant Accounting Policies [Line Items]                    
Authorized repurchases, amount   $ 200,000,000                
Credit Agreement | Credit Facilities                    
Significant Accounting Policies [Line Items]                    
Loans and letters of credit maximum borrowing capacity     $ 700,000,000              
Line of credit facility, expiration date     Jun. 30, 2027              
Quiet Platforms                    
Significant Accounting Policies [Line Items]                    
Asset impairment charges               24,700,000    
Goodwill impairment charge               $ 39,600,000    
Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration]               Impairment Restructuring and Other Charges    
Definite-lived impairment charges           $ 1,300,000 0 $ 40,500,000    
ACON Apparel Investors, L.P. | ACON Apparel GenPar, LLC.                    
Significant Accounting Policies [Line Items]                    
Payment paid             $ 35,000,000      
Percentage of interest             20.00%      
2025 Notes                    
Significant Accounting Policies [Line Items]                    
Aggregate principal amount of debt issued       $ 415,000,000            
Debt instrument, maturity year       2025            
Minimum                    
Significant Accounting Policies [Line Items]                    
Definite-lived intangibles, useful life         10 years 10 years        
Maximum                    
Significant Accounting Policies [Line Items]                    
Definite-lived intangibles, useful life         15 years 15 years        
ASU 2023-09                    
Significant Accounting Policies [Line Items]                    
Change in accounting principle, accounting standards update, adopted         true true        
v3.26.1
Summary of Significant Accounting Policies - Rollforward of Activity in Allowance for Doubtful Accounts (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance $ 8,879 $ 12,707 $ 2,133
Amount recorded to expense to increase reserve 17,284 750 11,944
Amount written-off against customer accounts to decrease reserve (631) (4,578) (1,371)
Ending balance $ 25,532 $ 8,879 $ 12,707
v3.26.1
Summary of Significant Accounting Policies - Useful Lives of Major Classes of Assets (Detail)
Jan. 31, 2026
Property, Plant and Equipment, Estimated Useful Lives, Lease Terms [Line Items]  
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration] Leasehold Improvements [Member]
Buildings  
Property, Plant and Equipment, Estimated Useful Lives, Lease Terms [Line Items]  
Useful lives in asset class 25 years
Fixtures and Equipment  
Property, Plant and Equipment, Estimated Useful Lives, Lease Terms [Line Items]  
Useful lives in asset class 5 years
Information Technology | Minimum  
Property, Plant and Equipment, Estimated Useful Lives, Lease Terms [Line Items]  
Useful lives in asset class 3 years
Information Technology | Maximum  
Property, Plant and Equipment, Estimated Useful Lives, Lease Terms [Line Items]  
Useful lives in asset class 5 years
v3.26.1
Summary of Significant Accounting Policies - Useful Lives of Major Classes of Assets (Parenthetical) (Detail)
Jan. 31, 2026
Maximum | Leasehold Improvements  
Property, Plant and Equipment, Estimated Useful Lives, Lease Terms [Line Items]  
Useful lives in asset class 10 years
v3.26.1
Summary of Significant Accounting Policies - Sales Return Reserve (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Accounting Policies [Abstract]      
Beginning balance $ 9,676 $ 10,766 $ 10,369
Returns (165,492) (161,891) (161,833)
Provisions 166,818 160,801 162,230
Ending balance $ 11,002 $ 9,676 $ 10,766
v3.26.1
Summary of Significant Accounting Policies - Supplemental Cash Flow Information for Cash Amounts (Received) Paid (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Cash paid (received) during the periods for:      
Income taxes $ 63,249 $ 139,777 $ 31,440
Interest $ 7,272 $ 1,592 $ 2,494
v3.26.1
Cash and Cash Equivalents and Short-term Investments - Fair Market Value of Cash, Cash Equivalents, and Short-term Investments (Detail) - USD ($)
$ in Thousands
Jan. 31, 2026
Feb. 01, 2025
Cash and cash equivalents:    
Cash and cash equivalents $ 238,923 $ 308,962
Short-term investments:    
Short-term investments   50,000
Total cash and short-term investments 238,923 358,962
Cash    
Cash and cash equivalents:    
Cash and cash equivalents 183,406 150,053
Interest Bearing Deposits    
Cash and cash equivalents:    
Cash and cash equivalents $ 55,517 158,909
Certificates of Deposit    
Short-term investments:    
Short-term investments   $ 50,000
v3.26.1
Fair Value Measurements - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Fair Value Measurements Disclosure [Line Items]      
Financial instruments required at fair value measurements $ 0    
Asset impairment charges 86,581,000 $ 6,353,000 $ 116,365,000
Quiet Platforms      
Fair Value Measurements Disclosure [Line Items]      
Asset impairment charges 37,200,000   6,400,000
Definite-lived impairment charges 1,300,000 0 $ 40,500,000
Impairment of operating lease ROU assets 33,400,000    
Revolving Credit Facility      
Fair Value Measurements Disclosure [Line Items]      
Outstanding borrowings $ 0 $ 0  
v3.26.1
Earnings per Share (EPS) - Reconciliation Between Basic and Diluted Weighted Average Shares Outstanding (Detail) - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Numerator:      
Net income attributable to AEO and numerator for basic EPS $ 191,983 $ 329,380 $ 170,038
Add: Interest expense, net of tax, related to the 2025 Notes [1]     58
Numerator for diluted EPS $ 191,983 $ 329,380 $ 170,096
Denominator:      
Denominator for basic EPS - weighted average shares 172,165 193,056 195,646
Add: Dilutive effect of the 2025 Notes [1]     205
Add: Dilutive effect of stock options and non-vested restricted stock 3,976 3,356 1,012
Denominator for diluted EPS - adjusted weighted average shares 176,141 196,412 196,863
Anti-dilutive shares [2] 3,128 500 1,289
[1] In accordance with ASU 2020-06, the Company utilizes the "if-converted" method of calculating diluted EPS.
[2] For all periods presented, anti-dilutive shares relate to stock options and unvested restricted stock
v3.26.1
Property and Equipment, Net - Property and Equipment, net (Detail) - USD ($)
$ in Thousands
Jan. 31, 2026
Feb. 01, 2025
Property, Plant and Equipment [Abstract]    
Land $ 17,910 $ 17,910
Buildings 228,633 228,390
Leasehold improvements 954,697 890,155
Fixtures and equipment 1,405,678 1,432,344
Construction in progress 102,027 2,486
Property and equipment, at cost 2,708,945 2,571,285
Less: Accumulated depreciation (1,923,323) (1,820,021)
Property and equipment, net $ 785,622 $ 751,264
v3.26.1
Property and Equipment, Net - Depreciation Expense (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Property, Plant and Equipment [Abstract]      
Depreciation expense $ 215,710 $ 216,093 $ 230,833
v3.26.1
Property and Equipment, Net - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Property, Plant and Equipment [Abstract]      
Depreciation expense included depreciation for assets under finance leases $ 10.5 $ 7.0 $ 1.9
Asset write-offs $ 4.7 $ 5.1 $ 3.6
v3.26.1
Goodwill and Intangible Assets, net - Summary of Goodwill and Definite-lived Intangible Assets, Net (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Goodwill [Line Items]    
Goodwill, beginning balance [1] $ 225,079 $ 225,303
Foreign currency fluctuation 190 (224)
Goodwill, ending balance 225,269 225,079 [1]
Intangible assets, gross 147,968 147,356
Accumulated amortization (68,626) (64,374)
Accumulated impairment (41,874) [2] (40,533) [3]
Intangible assets, net 37,468 42,449
Trademarks    
Goodwill [Line Items]    
Intangible assets, gross 96,468 95,856
Accumulated amortization (59,000) (54,791)
Intangible assets, net 37,468 41,065
Trade Names    
Goodwill [Line Items]    
Intangible assets, gross 12,500 12,500
Accumulated amortization (1,826) (1,783)
Accumulated impairment (10,674) [2] (9,333) [3]
Intangible assets, net   1,384
Customer Relationships    
Goodwill [Line Items]    
Intangible assets, gross 39,000 39,000
Accumulated amortization (7,800) (7,800)
Accumulated impairment (31,200) [2] (31,200) [3]
Operating Segments | American Eagle    
Goodwill [Line Items]    
Goodwill, beginning balance [1] 114,479 114,703
Foreign currency fluctuation 190 (224)
Goodwill, ending balance 114,669 114,479 [1]
Operating Segments | Aerie    
Goodwill [Line Items]    
Goodwill, beginning balance [1] 110,600 110,600
Goodwill, ending balance $ 110,600 $ 110,600 [1]
[1] Beginning balances include accumulated impairment of $43.8 million for both January 31, 2026 and February 1, 2025.
[2] Accumulated impairment includes $1.3 million related to Quiet Platforms trade names recorded in Fiscal 2025, and $31.2 million of customer relationships and $9.3 million of trade names related to Quiet Platforms recorded in Fiscal 2023.
[3] Accumulated impairment includes $31.2 million of customer relationships and $9.3 million of trade names related to Quiet Platforms recorded in Fiscal 2023.
v3.26.1
Goodwill and Intangible Assets, net - Summary of Goodwill and Definite-lived Intangible Assets, Net, (Parenthetical) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Finite-Lived Intangible Assets [Line Items]      
Accumulated impairment $ 43.8 $ 43.8  
Customer Relationships | Quiet Platforms      
Finite-Lived Intangible Assets [Line Items]      
Accumulated impairment     $ 31.2
Trade Names | Quiet Platforms      
Finite-Lived Intangible Assets [Line Items]      
Accumulated impairment $ 1.3   $ 9.3
v3.26.1
Goodwill and Intangible Assets, net - Amortization Expense (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense $ 4,324 $ 4,432 $ 8,748
v3.26.1
Goodwill and Intangible Assets, net - Estimated Future Amortization Expense (Detail)
$ in Thousands
Jan. 31, 2026
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 3,949
2027 3,877
2028 3,851
2029 3,671
2030 $ 3,506
v3.26.1
Long-Term Debt, Net - Additional Information (Detail) - USD ($)
 1 Months Ended 12 Months Ended
Jun. 30, 2022
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Line Of Credit Facility [Line Items]        
Long-term debt outstanding   $ 0 $ 0 $ 0
Credit Facilities        
Line Of Credit Facility [Line Items]        
Credit facility interest rate   0.10    
Weighted average interest rate for borrowings   5.60%   6.00%
Interest expense   $ 6,400,000 0 $ 1,100,000
Credit Facilities | SOFR | Minimum        
Line Of Credit Facility [Line Items]        
Accrued interest margin rate   1.125%    
Credit Facilities | SOFR | Maximum        
Line Of Credit Facility [Line Items]        
Accrued interest margin rate   1.375%    
Credit Facilities | Alternate Base Rate | Minimum        
Line Of Credit Facility [Line Items]        
Accrued interest margin rate   0.125%    
Credit Facilities | Alternate Base Rate | Maximum        
Line Of Credit Facility [Line Items]        
Accrued interest margin rate   0.375%    
Credit Agreement | Credit Facilities        
Line Of Credit Facility [Line Items]        
Loans and letters of credit maximum borrowing capacity $ 700,000,000      
Line of credit facility, expiration month and year 2027-06      
Credit Agreement | Stand-by Letters of Credit        
Line Of Credit Facility [Line Items]        
Letters of credit outstanding amount   $ 12,000,000 12,000,000  
Credit Agreement | Credit Agreement Loans        
Line Of Credit Facility [Line Items]        
Outstanding borrowings   $ 0 $ 0  
v3.26.1
Leases - Summary of Finance Lease Classification (Details) - USD ($)
$ in Thousands
Jan. 31, 2026
Feb. 01, 2025
Assets    
Finance leases $ 45,454 $ 37,979
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Finance Lease, Liability [Abstract]    
Current $ 12,901 $ 11,303
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current Other Liabilities, Current
Finance Lease, Liability, Noncurrent $ 28,884 $ 23,228
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Noncurrent Other Liabilities, Noncurrent
Total finance lease liabilities $ 41,785 $ 34,531
v3.26.1
Leases - Summary of Finance Lease Classification (Parenthetical) (Details) - USD ($)
$ in Millions
Jan. 31, 2026
Feb. 01, 2025
Leases [Abstract]    
Accumulated depreciation $ 20.3 $ 13.1
v3.26.1
Leases - Summary of Expense Categories and Cash Payments for Operating Leases (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Lease costs      
Single lease costs $ 412,217 $ 387,560 $ 335,420
Variable lease costs 110,949 115,010 121,061
Short-term leases and other lease costs 9,716 2,281 45,411
Depreciation of leased assets 10,499 7,016 1,894
Interest on lease liabilities 819 112 91
Total lease costs 544,200 511,979 503,877
Other information      
Operating cash flows for operating leases (423,460) (387,560) (403,355)
Operating cash flows for finance leases (819) (112) (91)
Financing cash flows for finance leases (3,857) (4,073) (668)
New operating lease ROU assets entered into during the period 598,390 559,750 153,236
New finance leases entered into during the period $ 18,785 $ 31,407 $ 13,018
v3.26.1
Leases - Summary of Average Remaining Lease Term and Discount Rate (Detail)
Jan. 31, 2026
Feb. 01, 2025
Lease term and discount rate    
Weighted-average remaining lease term - operating leases 7 years 7 years
Weighted-average remaining lease term - finance leases 6 years 3 years
Weighted-average discount rate - operating leases 5.50% 5.20%
Weighted-average discount rate - finance leases 5.60% 5.80%
v3.26.1
Leases - Summary of Maturity Analysis of Operating Leases and Finance Leases (Detail) - USD ($)
$ in Thousands
Jan. 31, 2026
Feb. 01, 2025
Operating Leases    
2026 $ 370,253  
2027 363,667  
2028 315,024  
2029 253,604  
2030 184,021  
Thereafter 749,190  
Total undiscounted cash flows 2,235,759  
Less: discount on lease liability (535,436)  
Total lease liability 1,700,323  
Finance Leases    
2026 12,716  
2027 12,521  
2028 11,573  
2029 4,276  
2030 4,274  
Thereafter 1,068  
Total undiscounted cash flows 46,428  
Less: discount on lease liability (4,643)  
Total finance lease liabilities 41,785 $ 34,531
Total    
2026 382,969  
2027 376,188  
2028 326,597  
2029 257,880  
2030 188,295  
Thereafter 750,258  
Total undiscounted cash flows 2,282,187  
Less: discount on lease liability (540,079)  
Total lease liability $ 1,742,108  
v3.26.1
Accumulated Other Comprehensive Loss - Accumulated Balances of Other Comprehensive Loss (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Accumulated Other Comprehensive Income (Loss)      
Beginning Balance $ (56,390) $ (16,410) $ (32,630)
Foreign currency translation gain (loss) [1] 40,804 (41,493) 17,911
Gain (loss) on long-term intra-entity foreign currency transactions   1,513 (1,691)
Ending Balance $ (15,586) $ (56,390) $ (16,410)
[1] Foreign currency translation adjustments are not adjusted for income taxes as they relate to a permanent investment in a subsidiary.
v3.26.1
Share-Based Payments - Additional Information (Detail)
 12 Months Ended
Jun. 07, 2023
USD ($)
shares
Jan. 31, 2026
USD ($)
CompensationPlan
$ / shares
shares
Feb. 01, 2025
USD ($)
$ / shares
shares
Feb. 03, 2024
USD ($)
Apr. 13, 2020
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation   $ 39,416,000 $ 39,606,000 $ 51,067,000  
Share-based compensation, net of tax   $ 29,300,000 29,500,000 36,200,000  
Number of share-based compensation plans | CompensationPlan   2      
Stock awards   $ 38,766,000 $ 39,006,000 50,445,000  
Weighted-average grant date fair value of stock options granted | $ / shares   $ 4.12 $ 10.6    
Aggregate intrinsic value of options exercised   $ 4,400,000 $ 3,500,000    
Net proceeds from stock options exercised   9,307,000 3,841,000 $ 7,646,000  
Tax benefit (detriment) realized from stock option exercises   (1,500,000) 2,100,000    
Stock repurchased during period, value   $ 7,900,000 $ 13,800,000    
Stock repurchased during period, shares | shares   700,000 600,000    
Shares available for all equity grants | shares   7,300,000      
2023 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Authorized shares under the plan | shares 10,600,000        
Shares of common stock granted | shares   2,100,000      
2023 Stock Award and Incentive Plan | Director | In any single calendar year          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock awards $ 750,000        
2020 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Authorized shares under the plan | shares         10,200,000
Shares of common stock granted | shares 3,400,000        
Restricted Stock | 2023 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares granted | shares   4,800,000      
Restricted Stock | 2020 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares granted | shares 7,200,000        
Performance-Based Restricted Stock Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares granted | shares   1,096,000      
Vesting period   3 years      
Unrecognized compensation expense   $ 5,000,000      
Unrecognized compensation expense, weighted average period   1 year 8 months 12 days      
Performance-Based Restricted Stock Units | 2023 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Percentage of shares vested   30.00%      
Performance-Based Restricted Stock Units | 2020 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Percentage of shares vested 40.00%        
Time-based restricted stock awards | 2023 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Percentage of shares vested   70.00%      
Time-based restricted stock awards | 2020 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Percentage of shares vested 60.00%        
Employee Stock Option          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Unrecognized compensation expense   $ 600,000      
Unrecognized compensation expense, weighted average period   1 year 10 months 24 days      
Time Based Restricted Stock Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares granted | shares   2,109,000      
Unrecognized compensation expense, weighted average period   1 year 9 months 18 days      
Unrecognized compensation expense, restricted stock grants   $ 25,600,000      
Time Based Restricted Stock Units | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period   1 year      
Time Based Restricted Stock Units | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period   3 years      
Time and performance-based awards          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation   $ 14,400,000 $ 14,200,000    
Time and performance-based awards | Selling general and administrative expenses          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation   $ 25,000,000 $ 25,400,000    
Vest Ratably | 2023 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Percentage of shares vested   98.00%      
Vesting period   3 years      
Vest Ratably | 2020 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Percentage of shares vested 97.00%        
Vest Ratably 1 | 2023 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Percentage of shares vested   2.00%      
Vest Ratably 1 | 2023 Stock Award and Incentive Plan | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period   1 year      
Vest Ratably 1 | 2023 Stock Award and Incentive Plan | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period   2 years      
Vest Ratably 1 | 2020 Stock Award and Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Percentage of shares vested 3.00%        
v3.26.1
Share-Based Payments - Summary of Stock Option Activity (Detail)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2026
USD ($)
$ / shares
shares
Options  
Outstanding - beginning of period | shares 4,324
Granted | shares 1,343
Exercised | shares (598) [1]
Cancelled | shares (526)
Outstanding - end of period | shares 4,543
Vested and expected to vest - end of period | shares 4,384
Exercisable - end of period | shares 2,066 [2]
Weighted-Average Exercise Price  
Outstanding - beginning of period | $ / shares $ 17.98
Granted | $ / shares 12.59
Exercised | $ / shares 15.55 [1]
Cancelled | $ / shares 21.14
Outstanding - end of period | $ / shares 16.34
Vested and expected to vest - end of period | $ / shares 16.28
Exercisable - end of period | $ / shares $ 14.5 [2]
Weighted-Average Remaining Contractual Term (In years)  
Outstanding - end of period 3 years 9 months 18 days
Vested and expected to vest - end of period 3 years 7 months 6 days
Exercisable - end of period 2 years 6 months [2]
Aggregate Intrinsic Value  
Outstanding - end of period | $ $ 35,658
Vested and expected to vest - end of period | $ 35,503
Exercisable - end of period | $ $ 18,213 [2]
[1] Options exercised during Fiscal 2025 ranged in price from $8.62 to $24.37.
[2] Options exercisable represent "in-the-money" vested options based upon the weighted average exercise price of vested options compared to the Company’s stock price on January 31, 2026.
v3.26.1
Share-Based Payments - Summary of Stock Option Activity (Parenthetical) (Detail)
 12 Months Ended
Jan. 31, 2026
$ / shares
Share-Based Payment Arrangement [Abstract]  
Options exercised, exercise price range, lower limit $ 8.62
Options exercised, exercise price range, upper limit $ 24.37
v3.26.1
Share-Based Payments - Black-Scholes Option Valuation Assumptions (Detail)
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Risk-free interest rates [1] 3.90% 4.40%
Dividend yield 3.50% 1.90%
Volatility factor [2] 47.50% 55.40%
Weighted-average expected term [3] 4 years 6 months 4 years 6 months
[1] Based on the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected life of our stock options.
[2] Based on the historical volatility of the Company’s common stock.
[3] Represents the period that options are expected to be outstanding. The weighted average expected option terms were determined based on historical experience.
v3.26.1
Share-Based Payments - Summary of Restricted Stock Activity (Detail)
shares in Thousands
 12 Months Ended
Jan. 31, 2026
$ / shares
shares
Time Based Restricted Stock Units  
Shares  
Nonvested - beginning of period | shares 2,360
Granted | shares 2,109
Vested | shares (1,200)
Cancelled | shares (275)
Nonvested - end of period | shares 2,994
Weighted-Average Grant Date Fair Value  
Nonvested - beginning of period | $ / shares $ 18.56
Granted | $ / shares 12.68
Vested | $ / shares 17.38
Cancelled | $ / shares 16.04
Nonvested - end of period | $ / shares $ 15.12
Performance-Based Restricted Stock Units  
Shares  
Nonvested - beginning of period | shares 2,218
Granted | shares 1,096
Vested | shares (563)
Cancelled | shares (307)
Nonvested - end of period | shares 2,444
Weighted-Average Grant Date Fair Value  
Nonvested - beginning of period | $ / shares $ 18.05
Granted | $ / shares 14.53
Vested | $ / shares 19.69
Cancelled | $ / shares 18.61
Nonvested - end of period | $ / shares $ 16.02
v3.26.1
Retirement Plan and Employee Stock Purchase Plan - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 01, 2023
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Defined Benefit Plan Disclosure [Line Items]        
Employee contribution percentage   3.00%    
Years of age attained   20 years    
Vesting percentage in matching contribution to defined contribution plan   100.00%    
Vesting period in matching contribution to defined contribution plan   2 years    
Compensation expense   $ 16,800,000 $ 16,000,000 $ 21,000,000
First 3 Percent of Each Participant's Contributions        
Defined Benefit Plan Disclosure [Line Items]        
Matching contribution to defined contribution plan   100.00%    
Next 3 Percent of Each Participant's Contributions        
Defined Benefit Plan Disclosure [Line Items]        
Matching contribution to defined contribution plan   25.00%    
Full-time employees        
Defined Benefit Plan Disclosure [Line Items]        
Periods of service to be eligible   30 days    
Part-time employees        
Defined Benefit Plan Disclosure [Line Items]        
Periods of service to be eligible 500 hours 1000 hours    
Defined Contribution Pension Plan 401k | Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Employee contribution percentage   50.00%    
Employee Stock Purchase Plan        
Defined Benefit Plan Disclosure [Line Items]        
Periods of service to be eligible   60 days    
Employee Stock Purchase Plan | Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Matching investment per pay period   $ 100    
Employee Stock Purchase Plan | Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Qualifying age   18 years    
Matching percent of investment   15.00%    
Matching investment per pay period   $ 5    
v3.26.1
Income Taxes - Additional Information (Detail) - USD ($)
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Jan. 28, 2023
Income Taxes [Line Items]        
U.S. federal corporate tax rate 21.00% 21.00% 21.00%  
Net operating loss $ 10,682,000 $ 12,470,000    
Valuation allowances 21,959,000 18,998,000    
Foreign tax credit carryovers $ 1,000,000 1,000,000    
Foreign tax credit carryovers expiration date 2028      
Deferred tax asset related to State income tax credit carryforwards, net of federal tax $ 6,200,000 6,800,000    
Deferred tax asset related to State income tax credit, net of federal tax, minimum carryforwards years 16 years      
Deferred tax asset related to State income tax credit carryforwards, net of federal tax, expiration period begins 2024      
Valuation allowances of state income tax credit carryovers $ 300,000 1,000,000    
Federal and state impairments of investments 4,000,000 4,700,000    
Deferred tax assets, capital losses 500,000      
Valuation allowances on deferred tax assets attributable to capital losses 500,000      
Valuation allowance on deferred tax asset to impairments of investments 4,000,000 4,700,000    
Deferred tax assets, Other long term assets 2,479,000 8,145,000    
Valuation allowances on deferred tax assets to other long term assets 8,100,000 8,100,000    
Deferred income taxes $ (12,831,000) 9,748,000 $ (43,456,000)  
Percent of dividends received as deduction for tax act 100.00%      
Unrecognized tax benefits $ 7,941,000 9,834,000 3,974,000 $ 2,478,000
Unrecognized tax benefits that would affect effective income tax rate if recognized 7,400,000 9,000,000    
Increase (decrease) in unrecognized tax benefits (1,900,000) 5,900,000    
Accrued interest and penalties related to unrecognized tax benefits 1,500,000 1,400,000    
Interest and penalties related to unrecognized tax benefits 900,000 7,300,000    
Income tax expense (benefit) $ 63,866,000 $ 112,854,000 $ 69,820,000  
Effective income tax benefit rate 25.60% 25.70% 29.20%  
Retained Earnings        
Income Taxes [Line Items]        
Deferred income taxes $ 0      
Quiet Logistics        
Income Taxes [Line Items]        
Deferred tax assets, Other long term assets 8,100,000      
Federal        
Income Taxes [Line Items]        
Net operating loss 600,000      
State        
Income Taxes [Line Items]        
Net operating loss 5,100,000      
Foreign        
Income Taxes [Line Items]        
Net operating loss 5,000,000      
Deferred Tax Asset Operating Loss Carryforwards State        
Income Taxes [Line Items]        
Valuation allowances 2,100,000 $ 2,900,000    
Deferred Tax Asset Operating Loss Carryforwards Foreign        
Income Taxes [Line Items]        
Valuation allowances 4,400,000 1,300,000    
Deferred Tax Asset Other Foreign        
Income Taxes [Line Items]        
Valuation allowances 1,600,000      
Deferred Tax Asset Tax Credit Carryforwards Foreign        
Income Taxes [Line Items]        
Valuation allowances $ 1,000,000 $ 1,000,000    
v3.26.1
Income Taxes - Components of Income (Loss) Before Income Taxes (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Income Tax Disclosure [Abstract]      
U.S. $ 235,256 $ 453,098 $ 208,283
Foreign 14,132 (13,341) 30,633
Income before income taxes $ 249,388 $ 439,757 $ 238,916
v3.26.1
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($)
$ in Thousands
Jan. 31, 2026
Feb. 01, 2025
Deferred tax assets:    
Operating lease ROU assets $ 439,192 $ 361,549
Capitalized research and development expenses 18,638 28,121
Accruals not currently deductible 14,920 10,508
Employee compensation and benefits 13,824 19,820
Deferred compensation 10,756 10,261
Net Operating Loss 10,682 12,470
Allowance for Doubtful Accounts 10,019 2,180
Inventories 6,863 6,231
Gift card liability 6,763 6,239
State tax credits 6,157 6,839
Impairment of investments 4,052 4,659
Other long-term assets 2,479 8,145
Other 1,196 1,136
Foreign tax credits 955 955
Gross deferred tax assets 546,496 479,113
Valuation allowance (21,959) (18,998)
Total deferred tax assets 524,537 460,115
Deferred tax liabilities:    
Operating lease liabilities (383,520) (319,488)
Property and equipment (45,446) (64,429)
Prepaid expenses (7,320) (5,561)
Goodwill (1,914) (1,937)
Other (805) (542)
Total deferred tax liabilities (439,005) (391,957)
Total deferred tax assets, net $ 85,532 $ 68,158
v3.26.1
Income Taxes - Components of Provision (Benefit) for Income Taxes (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Current:      
Federal $ 39,520 $ 32,249 $ 66,112
Foreign taxes 20,556 52,224 27,958
State 16,621 18,633 19,206
Total current 76,697 103,106 113,276
Deferred:      
Federal (4,917) 9,940 (31,602)
Foreign taxes (3,762) (3,766) (6,317)
State (4,152) 3,574 (5,537)
Total deferred (12,831) 9,748 (43,456)
Effective Tax Rate $ 63,866 $ 112,854 $ 69,820
v3.26.1
Income Taxes - Activity Related to Unrecognized Tax Benefits (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Income Tax Disclosure [Abstract]      
Unrecognized tax benefits, beginning of the year balance $ 9,834 $ 3,974 $ 2,478
Increases in current period tax positions 165 157 2,371
Increases in tax positions of prior periods 1,668 16,428 10
Settlements (3,615) (10,620) (275)
Lapse of statute of limitations (78) (73) (75)
Decreases in tax positions of prior periods (33) (32) (535)
Unrecognized tax benefits, end of the year balance $ 7,941 $ 9,834 $ 3,974
v3.26.1
Income Taxes - Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Effective Tax Rate, Amount      
U.S. Federal Statutory Tax Rate $ 52,371    
State and Local Income Tax, Net of Federal (National) Income Tax Effect 8,375    
Foreign Tax Effects      
Effect of Changes in Tax Laws or Rates Enacted in the Current Period 0    
Effect of Cross-Border Tax Laws      
Foreign Derived Intangible Income (6,448)    
Other 57    
Tax Credits      
Foreign Tax Credit (12,472)    
Other (1,540)    
Nontaxable or Nondeductible Items      
Nondeductible compensation 4,284    
Other 2,443    
Changes in Unrecognized Tax Benefits 1,936    
Effective Tax Rate $ 63,866 $ 112,854 $ 69,820
Effective Tax Rate, Percent      
Federal income tax rate 21.00% 21.00% 21.00%
State income taxes, net of federal income tax effect 3.40% 3.70% 4.40%
Foreign Tax Effects      
Changes in Valuation Allowances   0.70% 0.50%
Other   0.10% (1.00%)
Foreign rate differential   0.80% 0.30%
Effect of Changes in Tax Laws or Rates Enacted in the Current Period 0.00%    
Effect of Cross-Border Tax Laws      
Foreign Derived Intangible Income (2.60%)    
Other 0.00%    
Tax Credits      
Foreign Tax Credit (5.00%)    
Other (0.60%)    
Nontaxable or Nondeductible Items      
Non-deductible executive compensation 1.70% 1.30% 3.80%
Other 1.00%    
International provisions of Tax Act   (1.30%) (2.20%)
Change in unrecognized tax benefits 0.80% 0.70% 0.80%
Share Based Payments   (0.50%) 0.20%
Non-deductible goodwill   0.00% 3.50%
Federal Credits   (0.80%) (2.10%)
Effective Tax Rate 25.60% 25.70% 29.20%
U.S.      
Foreign Tax Effects      
Changes in Valuation Allowances $ 0    
Other Adjustments $ 966    
Foreign Tax Effects      
Changes in Valuation Allowances 0.00%    
Other 0.30%    
Mexico      
Foreign Tax Effects      
Inflation $ (2,768)    
Withholding Tax 7,916    
Other Adjustments $ 2,310    
Foreign Tax Effects      
Inflation 1.10%    
Withholding Tax 3.20%    
Other 0.90%    
Netherlands      
Foreign Tax Effects      
Changes in Valuation Allowances $ 4,415    
Other Adjustments $ (1,621)    
Foreign Tax Effects      
Changes in Valuation Allowances 1.80%    
Other (0.70%)    
Other Jurisdictions      
Foreign Tax Effects      
Other Jurisdictions $ 3,642    
Foreign Tax Effects      
Foreign rate differential 1.50%    
v3.26.1
Income Taxes - Schedule of Cash Income Tax Paid (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Total Cash Taxes Paid (net of refunds) $ 63,249 $ 139,777 $ 31,440
United States      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Federal Taxes 26,609    
PA      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
State Taxes 3,752    
Other State Jurisdictions      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
State Taxes 12,630    
Canada      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Foreign Taxes 3,771    
Mexico      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Foreign Taxes 11,867    
Other Foreign Jurisdiction      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Foreign Taxes $ 4,620    
v3.26.1
Segment Reporting - Additional Information (Detail)
 12 Months Ended
Jan. 31, 2026
Segment
Segment Reporting Information [Line Items]  
Number of operating segments 2
Number of reportable segments 2
v3.26.1
Segment Reporting - Summary of Reportable Segment Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Segment Reporting Information [Line Items]      
Net Revenue $ 5,547,236 $ 5,328,652 $ 5,261,770
Cost of sales, including certain buying, occupancy and warehousing costs 3,521,915 3,239,719 3,237,192
Selling, general and administrative expenses 1,485,535 1,431,814 1,433,300
Depreciation and amortization 211,961 212,255 226,866
Total segment operating income 756,608 868,630 839,534
Unallocated corporate expenses (428,783) (423,766) (464,172)
Impairment, restructuring and other charges (101,603) (17,561) (152,645)
Operating income 226,222 427,303 222,717
Interest expense (income), net 4,112 (7,769) (6,190)
Other (income), net (27,278) (4,685) (10,009)
Income before income taxes 249,388 439,757 238,916
Capital expenditures 260,795 222,538 174,437
General Corporate Expenses      
Segment Reporting Information [Line Items]      
Capital expenditures 64,543 55,079 40,317
Operating Segments | American Eagle      
Segment Reporting Information [Line Items]      
Net Revenue 3,411,237 3,385,231 3,361,579
Cost of sales, including certain buying, occupancy and warehousing costs 2,116,039 1,976,914 1,955,069
Selling, general and administrative expenses 756,038 727,590 729,519
Depreciation and amortization 84,047 74,220 77,195
Total segment operating income 455,113 606,507 599,796
Capital expenditures 96,816 86,953 61,139
Operating Segments | Aerie      
Segment Reporting Information [Line Items]      
Net Revenue 1,940,924 1,738,414 1,670,000
Cost of sales, including certain buying, occupancy and warehousing costs 1,156,194 1,018,418 1,009,650
Selling, general and administrative expenses 379,282 345,054 323,239
Depreciation and amortization 59,574 59,097 61,249
Total segment operating income 345,874 315,845 275,862
Capital expenditures 85,670 68,541 40,746
Other      
Segment Reporting Information [Line Items]      
Net Revenue 226,027 243,907 489,056
Total segment operating income (44,379) (53,722) (36,124)
Capital expenditures 13,766 11,965 32,235
Intersegment Elimination      
Segment Reporting Information [Line Items]      
Net Revenue $ (30,952) $ (38,900) $ (258,865)
v3.26.1
Segment Reporting - Summary of Geographical Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Revenues From External Customers And Long Lived Assets [Line Items]      
Total net revenue $ 5,547,236 $ 5,328,652 $ 5,261,770
Total long-lived assets, net 2,236,214 2,046,664  
United States      
Revenues From External Customers And Long Lived Assets [Line Items]      
Total net revenue 4,627,201 4,492,630 4,424,345
Total long-lived assets, net 2,052,498 1,887,502  
Foreign      
Revenues From External Customers And Long Lived Assets [Line Items]      
Total net revenue [1] 920,035 836,022 $ 837,425
Total long-lived assets, net $ 183,716 $ 159,162  
[1] Amounts represent sales from American Eagle and Aerie international retail stores, and e-commerce sales that are billed to and/or shipped to foreign countries and international franchise royalty revenue.
v3.26.1
Impairment, Restructuring and Other Charges - Additional Information (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jan. 31, 2026
Jan. 31, 2026
Restructuring Cost and Reserve [Line Items]    
Impairment and restructuring charges $ 42,600 $ 101,603
Quiet Platforms    
Restructuring Cost and Reserve [Line Items]    
Impairment and restructuring charges   $ 59,000
v3.26.1
Impairment, Restructuring and Other Charges - Schedule of Impairment and Restructuring Charges (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jan. 31, 2026
Jan. 31, 2026
Feb. 01, 2025
Feb. 03, 2024
Charges recorded in operating expenses:        
Total impairment and restructuring charges $ 42,600 $ 101,603    
Total impairment, restructuring and other charges   101,603 $ 17,561 $ 141,695
Total Company impairment, restructuring and other charges   101,603 17,561 152,645
Corporate and Stores        
Charges recorded in operating expenses:        
Long-lived asset impairment charges [1]   21,308    
Contract termination costs [1]   13,799    
Employee severance [1]   7,531    
Corporate        
Charges recorded in operating expenses:        
Employee severance     10,700 6,000
Total impairment and restructuring charges [2]       11,241
Total impairment, restructuring and other charges [3]     10,729  
International        
Charges recorded in cost of sales:        
Inventory charges [4]       10,950
Hong Kong        
Charges recorded in operating expenses:        
Employee severance       1,300
Total impairment and restructuring charges [5]       10,882
Hong Kong | Retail Operations        
Charges recorded in operating expenses:        
Total impairment and restructuring charges     6,800  
Total impairment, restructuring and other charges [6]     $ 6,832  
Quiet Platforms        
Charges recorded in operating expenses:        
Long-lived asset impairment charges [7]   50,685    
Employee severance   6,365 [7]   9,900
Commercial contract costs [7]   1,916    
Total impairment and restructuring charges   $ 59,000    
Total impairment, restructuring and other charges [8]       $ 119,572
[1] The Company recorded $21.3 million of retail store asset impairment charges. Of this amount, $14.6 million relates to ROU assets and $6.7 million relates to property and equipment. All impairments were recorded due to insufficient prospective cash flows to support the asset values. The Company also recorded $13.8 million of impairment charges related to contract termination costs and $7.5 million of employee severance.
[2] $11.2 million, consisting of $6.0 million of employee severance related to corporate realignment and other asset impairment of $5.2 million of investments related to further strategic business changes.
[3] The Company recorded restructuring costs of $10.7 million related to employee severance.
[4] $11.0 million of inventory write-down charges related to the Company's international businesses as further described in paragraph 1 of note (3) below.
[5] $10.9 million of charges related to exiting the Japan market, including the closure of all four stores in January 2024, as well as impairment related to our Hong Kong retail operations. Of this amount, $4.7 million related to Japan ROU assets, $3.6 million of Japan store property and equipment, $1.3 million of Hong Kong store ROU assets, and $1.3 million of employee severance. All impairments were recorded due to insufficient prospective cash flows to support the asset values. Additionally, the Company recorded $11.0 million of inventory write-down charges related to restructuring our international operations, which was recorded separately in Cost of Sales and discussed in note (1) above.
[6] The Company recorded impairment and restructuring costs of $6.8 million related to the sale of the Company's Hong Kong retail operations to a third-party buyer. These costs primarily consist of impairment of $6.4 million and employee severance.
[7] The Company recorded $50.7 million of asset impairment charges primarily related to closing Quiet Platforms fulfillment centers as part of its continued supply chain network optimization project. Of this amount, $30.5 million of charges relates to property and equipment, $18.8 million relates to ROU assets, and $1.3 million relates to definite-lived intangible assets. The Company recorded $6.4 million of employee severance, primarily related to closing Quiet Platforms fulfillment centers. Restructuring charges of $1.9 million were also recorded related to exiting third-party contracts.
[8] $119.6 million of charges related to the Quiet Platforms restructuring. Of this amount, the Company impaired definite lived intangible assets of $40.5 million consisting of $31.2 million of customer relationships and $9.3 million of trade names. The Company also impaired $39.6 million of goodwill and recorded $24.7 million of long-term asset impairment primarily related to technology which is no longer a part of the long-term strategy. All impairments were recorded due to insufficient prospective cash flows to support the asset value, resulting from the restructuring of Quiet Platforms. The Company recorded $9.9 million of severance based on this revised strategy. We also recorded $4.9 million of contract related charges.
v3.26.1
Impairment, Restructuring and Other Charges - Schedule of Impairment and Restructuring Charges (Parenthetical) (Detail)
 3 Months Ended 12 Months Ended
Jan. 31, 2026
USD ($)
Store
Jan. 31, 2026
USD ($)
Store
Feb. 01, 2025
USD ($)
Feb. 03, 2024
USD ($)
Store
Restructuring Cost and Reserve [Line Items]        
Total impairment, restructuring and other charges   $ 101,603,000 $ 17,561,000 $ 141,695,000
Impairment and restructuring charges $ 42,600,000 101,603,000    
Impairment charges   86,581,000 6,353,000 116,365,000
Long-term asset impairment   $ 0 0  
Number of retail stores | Store 1,500 1,500    
International        
Restructuring Cost and Reserve [Line Items]        
Inventory write-down charges [1]       10,950,000
Hong Kong        
Restructuring Cost and Reserve [Line Items]        
Impairment and restructuring charges [2]       10,882,000
Impairment charges     6,400,000  
Severance costs       1,300,000
Corporate        
Restructuring Cost and Reserve [Line Items]        
Total impairment, restructuring and other charges [3]     10,729,000  
Impairment and restructuring charges [4]       11,241,000
Severance costs     10,700,000 6,000,000
Other assets       5,200,000
Corporate and Stores        
Restructuring Cost and Reserve [Line Items]        
Long-lived asset impairment charges [5]   $ 21,308,000    
Impairment charges   21,300,000    
Severance costs [5]   7,531,000    
Contract termination costs [5]   13,799,000    
Retail Operations | Hong Kong        
Restructuring Cost and Reserve [Line Items]        
Total impairment, restructuring and other charges [6]     6,832,000  
Impairment and restructuring charges     6,800,000  
Japan Market Exit Costs        
Restructuring Cost and Reserve [Line Items]        
Impairment and restructuring charges       $ 10,900,000
Number of retail stores | Store       4
Japan Market Exit Costs | Japan        
Restructuring Cost and Reserve [Line Items]        
Impairment of operating lease ROU assets       $ 4,700,000
Retail Stores | Hong Kong        
Restructuring Cost and Reserve [Line Items]        
Impairment of operating lease ROU assets       1,300,000
Quiet Platforms        
Restructuring Cost and Reserve [Line Items]        
Long-lived asset impairment charges [7]   50,685,000    
Total impairment, restructuring and other charges [8]       119,572,000
Impairment and restructuring charges   59,000,000    
Impairment charges   37,200,000   6,400,000
Definite-lived impairment charges   1,300,000 $ 0 $ 40,500,000
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]       Total impairment, restructuring and other charges
Long-term asset impairment       $ 24,700,000
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]       Total impairment, restructuring and other charges
Goodwill impairment       $ 39,600,000
Contract related charges       4,900,000
Severance costs   6,365,000 [7]   9,900,000
Restructuring charges [7]   1,916,000    
Impairment of operating lease ROU assets   33,400,000    
Customer Relationships | Quiet Platforms        
Restructuring Cost and Reserve [Line Items]        
Definite-lived impairment charges       31,200,000
Trade Names | Quiet Platforms        
Restructuring Cost and Reserve [Line Items]        
Definite-lived impairment charges       9,300,000
Store Property and Equipment | Retail Stores | Japan Market Exit Costs | Japan        
Restructuring Cost and Reserve [Line Items]        
Impairment charges       $ 3,600,000
Property and Equipment | Corporate and Stores        
Restructuring Cost and Reserve [Line Items]        
Impairment charges   6,700,000    
Property and Equipment | Quiet Platforms        
Restructuring Cost and Reserve [Line Items]        
Long-lived asset impairment charges   30,500,000    
ROU Assets | Corporate and Stores        
Restructuring Cost and Reserve [Line Items]        
Impairment charges   14,600,000    
ROU Assets | Quiet Platforms        
Restructuring Cost and Reserve [Line Items]        
Long-lived asset impairment charges   18,800,000    
Definite-Lived Intangible Assets | Quiet Platforms        
Restructuring Cost and Reserve [Line Items]        
Long-lived asset impairment charges   $ 1,300,000    
[1] $11.0 million of inventory write-down charges related to the Company's international businesses as further described in paragraph 1 of note (3) below.
[2] $10.9 million of charges related to exiting the Japan market, including the closure of all four stores in January 2024, as well as impairment related to our Hong Kong retail operations. Of this amount, $4.7 million related to Japan ROU assets, $3.6 million of Japan store property and equipment, $1.3 million of Hong Kong store ROU assets, and $1.3 million of employee severance. All impairments were recorded due to insufficient prospective cash flows to support the asset values. Additionally, the Company recorded $11.0 million of inventory write-down charges related to restructuring our international operations, which was recorded separately in Cost of Sales and discussed in note (1) above.
[3] The Company recorded restructuring costs of $10.7 million related to employee severance.
[4] $11.2 million, consisting of $6.0 million of employee severance related to corporate realignment and other asset impairment of $5.2 million of investments related to further strategic business changes.
[5] The Company recorded $21.3 million of retail store asset impairment charges. Of this amount, $14.6 million relates to ROU assets and $6.7 million relates to property and equipment. All impairments were recorded due to insufficient prospective cash flows to support the asset values. The Company also recorded $13.8 million of impairment charges related to contract termination costs and $7.5 million of employee severance.
[6] The Company recorded impairment and restructuring costs of $6.8 million related to the sale of the Company's Hong Kong retail operations to a third-party buyer. These costs primarily consist of impairment of $6.4 million and employee severance.
[7] The Company recorded $50.7 million of asset impairment charges primarily related to closing Quiet Platforms fulfillment centers as part of its continued supply chain network optimization project. Of this amount, $30.5 million of charges relates to property and equipment, $18.8 million relates to ROU assets, and $1.3 million relates to definite-lived intangible assets. The Company recorded $6.4 million of employee severance, primarily related to closing Quiet Platforms fulfillment centers. Restructuring charges of $1.9 million were also recorded related to exiting third-party contracts.
[8] $119.6 million of charges related to the Quiet Platforms restructuring. Of this amount, the Company impaired definite lived intangible assets of $40.5 million consisting of $31.2 million of customer relationships and $9.3 million of trade names. The Company also impaired $39.6 million of goodwill and recorded $24.7 million of long-term asset impairment primarily related to technology which is no longer a part of the long-term strategy. All impairments were recorded due to insufficient prospective cash flows to support the asset value, resulting from the restructuring of Quiet Platforms. The Company recorded $9.9 million of severance based on this revised strategy. We also recorded $4.9 million of contract related charges.
v3.26.1
Impairment, Restructuring and Other Charges - Rollforward of Restructuring Liabilities Recognized in Consolidated Balance Sheets (Detail)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
USD ($)
Restructuring and Related Activities [Abstract]  
Accrued liability as of February 1, 2025 $ 7,650
Add: Costs incurred, excluding non-cash charges 14,897
Less: Cash payments and adjustments (9,439)
Accrued liability as of January 31, 2026 $ 13,108