Abercrombie & Fitch (ANF) concentration risks

The company's concentration profile is defined by two moderate-share supplier geographic dependencies that together concentrate a substantial portion of merchandise sourcing in two countries. Approximately 37% of cost of merchandise receipts during Fiscal 2025 were from vendors located in Vietnam, and approximately 26% from vendors located in Cambodia. The combined disclosed weight represents a moderate-share dependency across both countries, each individually at the medium-share band. Both exposures are dependency in character: they reflect sourcing relationships with vendors in specific countries rather than structural features of global apparel manufacturing that cannot be relocated. The concentration in Vietnam and Cambodia is meaningful in the current trade environment. Tariff escalation, export restrictions, geopolitical disruption, or labor market developments in either country could increase sourcing costs or reduce merchandise availability. Because the two geographies together account for a substantial share of cost of merchandise receipts, a simultaneous adverse policy development affecting both — as could occur if the same tariff regime were applied to multiple Southeast Asian countries — would affect a majority of the sourcing base at once rather than being offset by other supply markets. No customer, product, or counterparty concentrations are separately disclosed. On balance, the concentration profile is focused on the supply chain: two moderate-share country dependencies in Southeast Asia that create correlated sensitivity to trade-policy and supply-disruption events in that region. The primary monitoring variable is tariff and trade-policy developments affecting Vietnam and Cambodia and the company's optionality to diversify sourcing across additional production origins.

For the engine’s reasoning on ANF’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.

Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.