×
317
Fashion Jobs
MEDCIS PATHLABS INDIA PVT LTD
Medcis Path Labs is Hiring For Pathology Area Sales Manager-Chennai
Permanent · Chennai
TIME TECHNOPLAST
Area Sales Manager
Permanent · Andheri
LIFE TURN MANAGEMENT CONSULTANT
sr. Manager Production - Sricity, Tada - Mnc Company - Engineering Ind
Permanent · Tada
MCKENZIE
Hiring For Retail Store Merchandiser / Manager
Permanent · Chennai
V2B GLOBAL CONSULTANTS
sr Technician Apparel -Buying Office
Permanent · Gurugram
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
ADIDAS
Senior Product Owner - Machine Learning & ai
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant - Omnichannel
Permanent · GURUGRAM
PUMA
Manager- Warehouse (B2C)
Permanent · Bengaluru
HARMAN FINOCHEM
sr. Manager- Api Production For Srp With Leading Pharma @ Aubad
Permanent · Aurangabad
PNB HOUSING
Area Sales Manager
Permanent · Thane
PNB HOUSING
Area Sales Manager
Permanent · Pune
JM FINANCIAL HOME LOANS LTD
Area Sales Manager - Home Loans
Permanent · Chennai
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
NEW ALFA INTERNATIONAL
Foundry Production Manager
Permanent · Dubai
MEDCIS PATHLABS
Medcis Pathlabs is Hiring For Pathology Area Sales Manager
Permanent · Visakhapatnam
By
Reuters
Published
Mar 2, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Online demand fuels Abercrombie & Fitch profit beat, rosy sales outlook

By
Reuters
Published
Mar 2, 2021

Abercrombie & Fitch Co forecast first-quarter net sales above estimates on Tuesday after tightened costs and surging online sales of sweaters, fleece tops and knit bottoms helped it report a better-than-expected quarterly profit.


Photo: Abercrombie & Fitch



The company, which said it would resume share buybacks, also benefited from increased prices during the holidays as it reined in promotions and tightened inventory.

The teen- and millenial-focused retailer has partnered with TikTok influencers Charli and Dixie D’Amelio and ramped up investments in its online business to combat declining store traffic as customers shift to online shopping due to the pandemic.

It projected a 30% to 40% increase in net sales in the first quarter versus an average analysts’ estimate for a 32.8% jump to $644.62 million.

Demand for its loungewear and Gilly Hicks brand’s activewear drove digital sales 34% higher, as customers staying at home turned to comfortable clothing.

“Our distribution centers remained operational, enabling us to fulfill digital customer demand globally, partially mitigating lost sales from temporary store closures,” said Chief Executive Officer Fran Horowitz.

Net sales fell 5% during the quarter.

In a bid to rein in costs, the Ohio-based company reduced payroll expenses, suspended dividend and closed 137 stores last year, including eight larger format flagships, as it pivots toward smaller, newly remodeled stores to draw in customers.

Excluding one-time items, the company reported a profit of $1.50 per share in the fourth quarter, beating analysts’ average estimate of $1.22 per share.

© Thomson Reuters 2023 All rights reserved.