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PUMA
Garment Technician Apparel
Permanent · Hong Kong
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Senior Manager Technical Material Apparel
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Senior Garment Technician
Permanent · Hong Kong
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Business Operation Executive
Permanent · Hong Kong
SHISEIDO
Manager - Retail Experience And Operations, Nars
Permanent · Hong Kong
SHISEIDO
Manager - Marketing, Shiseido Fragrance Division And dg Beauty
Permanent · Hong Kong
AESOP
Retail Consultant | Hong Kong And Macau
Permanent · Central
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Contract Accounting Officer, Finance And Accounts
Permanent · Hong Kong
SHISEIDO
Senior Manager, Finance And Accounts
Permanent · Hong Kong
SHISEIDO
System Analyst (Ecommerce & Integration), Information And Technology Transformation
Permanent · Hong Kong
PUMA
Junior Developer Fabric Apparel
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Junior Garment Technician (6 Months Contract)
Fixed-term · Hong Kong
SHISEIDO
Senior Officer - Sales & Operations, Shiseido And Drunk Elephant
Permanent · Hong Kong
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Assistant Manager Product Compliance
Permanent · Hong Kong
SHISEIDO
Senior Officer - Trade Marketing, Retail Experience And Education
Permanent · Hong Kong
SHISEIDO
Senior Officer - Marketing, Shiseido Fragrance Division And dg Beauty
Permanent · Hong Kong
SHISEIDO
Officer - Retail Experience & Operations, Nars And Bare Minerals
Permanent · Hong Kong
GUSTO LUXE (FORMERLY REUTER COMMUNICATIONS)
PR Intern
Internship · 香港
PUMA
Executive, Merchandising
Permanent · Hong Kong
PUMA
Senior Developer Fabric Apparel
Permanent · Hong Kong
FOOT LOCKER
Shift Leader (Asia, hk) Tst
Permanent · Hong Kong
FOOT LOCKER, FOOT LOCKER
Sales Associate Full Time (Asia, hk) Yoho Mall
Permanent · Hong Kong
By
Reuters
Published
Mar 2, 2022
Reading time
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Abercrombie warns of weak margins as holiday sales disappoint

By
Reuters
Published
Mar 2, 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.

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