86 annotations
Page 3 of 5
As global inflationary pressures mounted, we experienced the shift in our teen shopping behavior, resulting in lower conversion and basket size.
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2022 Q2
7 Sep 22
For 2022, we expect around $250 million or 700 basis points of cost pressure due to inflation
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2022 Q2
7 Sep 22
Slowed hiring
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2022 Q2
7 Sep 22
reduced receipts, adjusted promotions and are employing bots and hold where appropriate.
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2022 Q2
7 Sep 22
utilizing box and hold strategies on certain core items
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2022 Q2
7 Sep 22
we've chased areas of strength, reduced receipts on slower moving categories and put plans in place to bulk and hold certain items.
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2022 Q2
7 Sep 22
net sales to be down mid-single digits to 2021
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2022 Q2
7 Sep 22
Operating margin in the range of 1% to 3%, down from our previous range of 5% to 6%, reflecting deleverage from lower sales, and the potential for margin degradation to turn Hollister back-to-school inventory.
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2022 Q2
7 Sep 22
goals, including sales of $4.1 billion to $4.3 billion and a sustainable operating margin rate at or above 8% by the end of fiscal 2025.
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2022 Q2
7 Sep 22
For the second quarter, total company sales declined 7% and were down 4% on a constant currency basis. Abercrombie brands, which includes kids, grew 5% or 7% on a constant currency basis, led by ongoing strength in our primary growth opportunity, Abercrombie Adults.
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2022 Q2
7 Sep 22
Challenges at Hollister, whose customer base tilts lower on the income scale compared to the Abercrombie adults brand was the primary driver of our total company sales and operating margin
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2022 Q2
7 Sep 22
we've recently experienced a significant divergence in sales and gross margin trends amongst our two largest brands
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2022 Q2
7 Sep 22
we have reduced receipts for holiday and beyond.
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2022 Q2
7 Sep 22
Once we saw that, we turned on some markdowns and promotions
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2022 Q2
7 Sep 22
we were receiving goods holiday goods into the last week of January
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2022 Q2
7 Sep 22
we expect Q2 here on a year-over-year growth basis to be the peak. We'll moderate in Q3 and then we will moderate significantly in Q4
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2022 Q2
7 Sep 22
we started receiving goods still after Christmas last year.
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2022 Q2
7 Sep 22
the balance of the 70 points, you take 28 of them, which is our on-hand units, and then 8, which are production costs.
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2022 Q2
7 Sep 22
we had 40% of our goods coming out of Vietnam last year
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2022 Q2
7 Sep 22
if you take the 70% ahead of last year and you break it down, half of that, to your question, is in transit.
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2022 Q2
7 Sep 22