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Delivered a record first quarter with net sales growth for the 14th consecutive period, driven by strong execution in the Americas and APAC.

Performance attribution highlights a robust consumer response to spring assortments and elevated lifestyle positioning, particularly within the Abercrombie brands.

EMEA results were significantly impacted by the conflict in the Middle East, which reduced total company net sales growth by more than 50 basis points.

Successfully implemented a multiyear merchandising ERP upgrade in March, which is expected to accelerate global partner onboarding and category expansion.

Strategic positioning remains focused on 'fashion and value' across both brands, maintaining high conversion rates despite a dynamic macro environment.

Operational agility was demonstrated through proactive inventory management and promotional alignment in regions experiencing softer demand trends.

The company continues to invest in physical store expansion, citing the new SoHo flagship as the 'best expression' of the brand's evolved lifestyle identity.

Full year guidance assumes a 15% tariff on all global imports into the U.S. effective for the second half of the year, impacting gross margins by approximately 20 basis points.

Management expects a fourth consecutive year of net sales growth, with Q2 growth projected between 2% and 4% as ERP-related third-party order pauses resume.

Operating margin targets of 12% to 12.5% remain unchanged, with modest AUR improvement expected to fund ongoing investments in marketing and digital tools.

Strategic evaluation of the APAC region is underway to optimize the go-to-market model, potentially shifting toward capital-light partnerships or franchises.

Capital allocation priorities include returning approximately $450 million to shareholders via share repurchases and investing $225 million in capital expenditures.

The merchandising ERP implementation temporarily reduced Q1 top-line growth by approximately 100 basis points due to a pause in third-party orders.

Freight costs provided a 180 basis point tailwind in Q1 but are expected to flip to a headwind in the second half of the year due to rising fuel prices.

Management has applied for approximately $100 million in IEEPA tariff refunds, though no benefit from these potential recoveries is included in current guidance.

Geopolitical instability in the Middle East remains a primary headwind for the EMEA region, particularly affecting the Hollister brand's performance.

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Management reported no visible change in performance across customer cohorts, noting that consumers continue to choose the brands when product and voice align.

Hollister remains strong in the Americas despite EMEA-driven softness, with high engagement in graphic tees and warm-weather categories.

The conflict drove a 50 basis point drag on total company sales, with the impact concentrated heavily within the Hollister brand in EMEA.

Management is utilizing its 'playbook' to mitigate impact by tightening inventory receipts and adjusting promotional cadences in real-time.

AI is being embedded into forecasting, inventory management, and customer care functions to improve speed and efficiency.

The company is testing 'Agentic commerce' on platforms like Perplexity to learn how the buying process is evolving via new apps and devices.

Denim demand remains stable and is being protected from heavy promotions, with management seeing success across both brands and genders.

The category is expected to remain a key driver heading into the back-to-school season.