×
144
Fashion Jobs
FOREO
Business Development Manager – Asia/SEA/Nea
Permanent · Hong Kong
SUPERDRY
Wholesale Business Analyst
Permanent · HONG KONG
SHISEIDO
Senior Manager - Financial Planning & Analysis, Finance And Accounts
Permanent · Hong Kong
SHISEIDO
Manager - Marketing (Social Media & Influencer Marketing), Shiseido And Drunk Elephant
Permanent · Hong Kong
L'OREAL GROUP
Group Product Manager
Permanent · Hong Kong
LEVI'S
Manager - Global Logistics Operations
Permanent · Hong Kong
SHISEIDO
Senior Manager - Marketing, Shiseido And Drunk Elephant
Permanent · Hong Kong
PUMA
Specialist, IT Service Delivery
Permanent · Hong Kong
AESOP
Digital Project Manager, Asia
Permanent · Hong Kong
SHISEIDO
Assistant Manager - Demand And Operations Planning, Ipsa
Permanent · Hong Kong
PUMA
Garment Technician
Permanent · Hong Kong
AESOP
Retail Consultant | Hong Kong And Macau
Permanent · Central
CANADA GOOSE
Senior Accountant
Permanent · CENTRAL
CANADA GOOSE
Assistant Manager, fp&a
Permanent · CENTRAL
LOVISA
Assistant Store Manager - Mira Place
Permanent · TSIM SHA TSUI
LOVISA
Part Time Sales Associate - Telford Plaza
Permanent · KOWLOON BAY
LOVISA
Full Time & Part Time Sales Associate - Mira Place
Permanent · TSIM SHA TSUI
H&M
Service Desk Agent
Permanent · HONG KONG
SHISEIDO
Travel Retail - Commercial Assistant, gc, Prestige
Permanent · Hong Kong
SHISEIDO
Assistant Manager - Marketing (Influencer Marketing), Clé de Peau Beauté
Permanent · Hong Kong
EMMA WALLACE CO LTD
Senior Fashion Marketing Executive / Marketing Executive
Permanent · HONG KONG ISLAND
PUMA
Part-Time Sales Associate
Permanent · HONG KONG
By
Reuters
Published
Nov 23, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Abercrombie sees better holiday-quarter sales, posts surprise profit

By
Reuters
Published
Nov 23, 2022

Abercrombie & Fitch Co said on Tuesday it was “cautiously optimistic” about the holiday season and forecast a smaller-than-expected drop in current-quarter sales after resilient demand led to a surprise quarterly profit.


Abercrombie & Fitch


The Ohio-based apparel retailer’s shares that have lost nearly half of their value this year were up about 19 percent after the company also reported third-quarter sales above Wall Street estimates, defying inflation’s impact on non-essential spending.

Chief executive officer Fran Horowitz in a post-earnings call said the company expects the fourth quarter to “mirror more pre-pandemic” holiday.

The company’s attempt to revamp its inventory to get rid of casual and athleisure apparel that have fallen out of fashion and bring in new styles have attracted wealthier shoppers who remain unperturbed by decades-high inflation.

Banana Republic parent Gap Inc has also posted better-than-expected third-quarter results as dressier clothing is back in vogue.

Abercrombie, however, said there was a little bit of softness in demand during late October and maybe into the first week of November.

Last year, more people were shopping earlier due to inventory shortages, which is probably reflecting the slowdown, said M Science senior analyst Matt Jacob.

American Eagle Outfitters, on the other hand, expects a bigger-than-expected fall in fourth-quarter sales, but sees gross margin in the range of 32 percent to 33 percent, at the higher end of its previous forecast, as it benefits from attempts to right size inventory.

Abercrombie expects fourth-quarter net sales to fall about 2 percent to 4 percent in fiscal 2022, compared with analysts’ average estimate of a 6.3 percent drop, according to Refinitiv IBES data.

​Excluding items, it reported a profit of 1 cent per share in the third quarter, compared with estimates of a loss of 16 cents.

© Thomson Reuters 2022 All rights reserved.