Retailers are coping with rising freight costs by raising consumer prices and don't know when the inflation will cease.
thanks to supply chain constraints and labor issues. Walmart and Macy’s temporarily cut store hours recently because so many employees have been falling sick with Omicron.
“We are catching up on fall goods, in the next couple of weeks we feel that will be cleaned up,” said Lipesky. For spring, he said the company “feels better each day that goes by. We use some air if we need to, but we started to call spring a lot earlier. It’s interesting. We had spring goods that we cut and sewed two months after some of these fall goods left the port and we received the spring [inventory] earlier.
For the fourth quarter of fiscal 2021, A&F expects net sales up 4 to 6 percent compared to 2020 net sales of $1.12 billion, and flat to down 2 percent compared to 2019 net sales of $1.19 billion, reflecting “ongoing U.S. and digital momentum.” Previously, the company forecast 3 to 5 percent fourth-quarter sales gains compared to the 2019 period.
He added that the Free People brand “slowed just a little,” while in-store traffic was down for the quarter. That’s in addition to reduced store hours, in part because of employee absenteeism as associates tested positive for COVID-19. Total company net sales for the two months ending Dec. 31 were up 14.6 percent, compared with the same time frame in December 2019. Total retail segment net sales also grew, up 15 percent during the quarter, w
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