详细的专业零售、服装及鞋类可比公司表格；截至2025年5月22日的定价

Restricted - External U.S. Specialty Retail, Apparel & FootwearNEUTRALU.S. Specialty Retail, Apparel &FootwearAdrienne Yih+1 212 526 5257adrienne.yih@barclays.comBCI, USPaul Kearney+1 212 526 1964paul.kearney@barclays.comBCI, USMichael Vu+1 212 526 9568michael.vu@barclays.comBCI, USAngus Kelleher+1 212 526 0081angus.kelleherferguson@barclays.comBCI, US Ratings Summary vs. ConsensusFIGURE 1. Ratings Summary vs. ConsensusSource: Bloomberg consensus ratings as of 5/22/25, Barclays Research estimates. Barclays relative rating system: OW =Overweight; EW = Equal Weight; UW = Underweight. Industry View: Neutral. For full disclosures on each covered company,includingdetailsofourcompany-specificvaluationmethodologypublicresearch.barcap.com andrisks,pleaserefertohttp://2 Comp TablesFIGURE 2. Comparable Companies Valuation Table (Calendarized)Note: DECK, GOOS, NKE, RL, TPR, UAA, & VFC use time weighted averages of annual periods. All others based on most closely aligned Fiscal Year (December/January); GOOS, GRGD.TO, & PET.TO estimates and valuation in CAD, ONON in CHF. FIGSEBITDA excludes SBC. Barclays relative rating system: OW = Overweight; EW = Equal Weight; UW = Underweight. Industry View: Neutral. For full disclosures on each covered company, including details of our company-specific valuation methodologyand risks, please refer to http://publicresearch.barcap.comSource: Company data, Bloomberg closing prices as of 5/22/25, Barclays Research estimates27 May 2025 FIGURE 4. Comp Growth, Sales Growth, GP Growth, OpEx Growth (Fiscal Year End)Source: Company data, Barclays Research estimates27 May 2025 FIGURE 6. Gross Margin, OpEx % of Sales, Adj. EBIT % of Sales (Fiscal Year End)Source: Company data, Barclays Research estimates27 May 2025 FIGURE 8. Sales/Avg Unit, GP/Avg Unit, OpEx/Avg Unit, Adj. EBIT/Avg Unit (Fiscal Year End)Source: Company data, Barclays Research estimates27 May 2025 FIGURE 9. Sales/Avg. Sq Foot, GP/Avg. Sq Foot, OpEx/Avg. Sq Foot, Adj. EBIT/Avg. Sq Foot (Fiscal Year End)Source: Company data, Barclays Research estimates. Note: BBWI, VSCO, and URBN use "Selling Square Footage", all others use "Gross Square Footage."27 May 2025 NotesFIGURE 10. NotesSource: Barclays Research27 May 2025 Analyst(s) Certification(s):We, Adrienne Yih and Paul Kearney, hereby certify (1) that the views expressed in this research report accurately reflect our personal views about any orall of the subject securities or issuers referred to in this research report and (2) no part of our compensation was, is or will be directly or indirectlyrelated to the specific recommendations or views expressed in this research report.Important Disclosures:Barclays Research is produced by the Investment Bank of Barclays Bank PLC and itsaffiliates(collectively and each individually, "Barclays"). Allauthors contributing to this research report are Research Analysts unless otherwise indicated. The publication date at the top of the report reflects thelocal time where the report was produced and maydifferfrom the release date provided in GMT.Availability of Disclosures:Where any companies are the subject of this research report, for current important disclosures regarding those companies please refer to https://publicresearch.barclays.com or alternatively send a written request to: Barclays Research Compliance, 745 Seventh Avenue, 13th Floor, New York, NY10019 or call +1-212-526-1072.The analysts responsible for preparing this research report have received compensation based upon various factors including the firm's total revenues,a portion of which is generated by investment banking activities, the profitability and revenues of the Markets business and the potential interest of thefirm's investing clients in research with respect to the asset class covered by the analyst.Analysts regularly conduct site visits to view the material operations of covered companies, but Barclays policy prohibits them from accepting paymentor reimbursement by any covered company of their travel expenses for such visits.Barclays Research Department produces various types of research including, but not limited to, fundamental analysis, equity-linked analysis,quantitative analysis, and trade ideas. Recommendations contained in one type of Barclays Research maydifferfrom those contained in other types ofBarclays Research, whether as a result ofdifferingtime horizons, methodologies, or otherwise.In order to access Barclays Statement regarding Research Dissemination Policies and Procedures, please refer to https://publicresearch.barclays.com/S/RD.htm. In order to access Barclays Research Conflict Management Policy Statement, please refer to: https://publicresearch.barclays.com/S/CM.htm.Materially Mentioned Stocks (Ticker, Date, Price)Abercrombie & Fitch Co.(ANF, 22-May-2025, USD 76.76), Equal Weight/Neutral, CE/J/K/NAmerican Eagle Outfitters, Inc.(AEO, 22-May-2025, USD 10.85), Underweight/Neutral, CE/JBath & Body Works Inc.(BBWI, 22-May-2025, USD 31.38), Equal