×
463
Fashion Jobs
MOLEDRO
Operation Manager
Permanent · NEW DELHI
MOLEDRO
HR &Admin
Permanent · NEW DELHI
MOLEDRO
Brand Manager
Permanent · NEW DELHI
MOLEDRO
sr Fashion Designer / Production Manager
Permanent · NEW DELHI
ADIDAS
Manager Information Security
Permanent · GURUGRAM
ADIDAS
sr. Manager Sales Excellence
Permanent · GURUGRAM
CL GUPTA RETAIL PRIVATE LIMITED
Production Manager Cum Quality Control Manager
Permanent · Noida
UGRAYA FOODS
Production Manager || Agartala (Tripura) || Poultry Feed Industry
Permanent · Agartala
GOVIND KRIPA INFRATECH PVT. LTD.
HR/Telecalling/Sales Manager/Sales Executives/Asst. Sales Manager
Permanent · Jaipur
JUMBO BAGS
Manager- Production (Fibc / Woven Polypropylene Industry)
Permanent · Chennai
ADIDAS
Manager, Masterdata And Product Launch (.Com & Digital Partners), Apac
Permanent · GURUGRAM
ADIDAS
Manager, Digital Backend Operations, Apac
Permanent · GURUGRAM
THE HOUSE OF DEEPTHI LIMITED
Production Manager
Permanent · MUMBAI
MANPOWERGROUP SERVICES INDIA PRIVATE LIMITED
Hiring-Field Sales Manager
Permanent · Chennai
YUTIKA NATURAL
Area Sales Manager (Guwahati)
Permanent · Katihar
LENSKART
Area Operations Manager
Permanent · Chennai
ELECTRONICA FINANCE
Area Sales Manager - Mumbai- Vasai
Permanent · Mumbai
ADIDAS
Manager Learning & Development & Knowledge Management (M/F/D)
Permanent · CHENNAI
D.LIGHT
Hiring For Area Sales Manager | Bihar | d.Light Energy
Permanent · Patna
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Loan Against Securities - Area Sales Manager
Permanent · Chennai
ANAND RATHI GLOBAL FINANCE
Hiring For Area Sales Manager Sme- Lap
Permanent · Mumbai
CURLYFE BIOSCIENCES
Senior Area Sales Manager
Permanent · Ghaziabad
By
Reuters
Published
Mar 3, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Abercrombie warns of weak margins as holiday sales disappoint

By
Reuters
Published
Mar 3, 2022

Clothes retailer Abercrombie & Fitch Co warned of weaker margins in 2022 after missing holiday-quarter sales and profit estimates due to product shortages and COVID-19 curbs, sending shares down more than 17% in early trading on Wednesday.


Photo - - Hollister



The Ohio-based retailer took a hit from factory closures in Vietnam and shipping delays, leading to shortages during the peak Christmas and New Year shopping period. The company's teen-focused Hollister brand was the most heavily impacted.

"We had significant unexpected inventory receipt delays from late November into December leaving us unable to fulfill peak holiday demand," Chief Executive Fran Horowitz said on an earnings call.

Sales in the Asia Pacific region fell 21% in the quarter as renewed restrictions in some parts of the world due to a surge in the Omicron coronavirus variant forced the company to cut down on operating hours at its outlets.

However, Horowitz said sales had started to improve as products arrived and COVID-19 cases fell, giving the firm momentum in the current quarter.

Abercrombie projected net sales for fiscal 2022 to rise 2% to 4%, above estimates of a 2.7% rise at midpoint.

The retailer offered fewer and smaller discounts to protect its margins but they were offset by higher-than-expected freight costs in the fourth quarter, with profit per share of $1.14 falling short of estimates of $1.27.

The company said it expects gross margins to decline 200 basis points this year.

Abercrombie's net sales rose to $1.16 billion in the fourth quarter from $1.12 billion a year earlier, but missed analysts' estimates of $1.18 billion, according to IBES data from Refinitiv.

Teen apparel peer Urban Outfitters Inc (URBN.O) also saw a fall in store traffic before Christmas, while American Eagle Outfitters Inc (AEO.N) has signaled a hit to holiday sales due to the same factors of supply chain snarls and Omicron.

© Thomson Reuters 2022 All rights reserved.