52
Fashion Jobs
ZALANDO
Head of Engineering - Emerging Propositions
Permanent · HELSINKI
ESTÉE LAUDER COMPANIES
Beauty Advisor - Sokos Helsinki (Fulltime Temporary)
Fixed-term · HELSINKI
ESTÉE LAUDER COMPANIES
Full Time Beauty Advisor - Vantaa Airport, Helsinki
Permanent · HELSINKI
ESTÉE LAUDER COMPANIES
Estee Lauder Companies - Multi Counter Manager - Stockmann, Turku
Permanent · TURKU
MUJI
Avoin Hakemus - Myymälä
Permanent · HELSINKI
MUJI
Avoin Hakemus - Ravintola
Permanent · HELSINKI
JACK & JONES
Myyjä Jack & Jones Helsinki Outlet
Permanent · HELSINKI
MANGO
Sales Assistant
Fixed-term · VANTAA
RITUALS
Sales Advisor (Summerextra) - Tampere - Ratina Shopping Center
Permanent · TAMPERE
RITUALS
Sales Advisor (Summerextra) - Vantaa - Jumbo
Permanent · VANTAA
JACK & JONES
Kesätöihin Myyjäksi Vero Moda / Jack & Jones Porvoo
Permanent · PORVOO
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Mikkeliin
Permanent · MIKKELI
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Ouluun
Permanent · OULU
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Vaasaan
Permanent · VAASA
MONKI
Sales Advisor, 10h (Summer Help Temporary)
Fixed-term · VANTAA
VERO MODA
Myyjä Vero Moda Seinäjoki Idepark
Permanent · SEINÄJOKI
ESTÉE LAUDER COMPANIES
MAC Make-up Artist (20h/Week) - Sokos Tampere
Permanent · TAMPERE
ESTÉE LAUDER COMPANIES
Beauty Advisor (30h/Week) - Stockmann Helsinki
Permanent · HELSINKI
MASSIMO DUTTI
Sales Assistant Massimo Dutti, Helsinki
Permanent · HELSINKI
H&M
Sales Advisor, 15h - Kesätyö
Permanent · SEINÄJOKI
H&M
Sales Advisor, 10h - Kesätyö
Permanent · KOTKA
H&M
Sales Advisor, 10-20h - Kesätyö
Permanent · PORVOO
Published
Jan 22, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Abercrombie updates Q4 outlook, announces departure of Arthur Martinez

Published
Jan 22, 2018

Abercrombie & Fitch revised its Q4 2017 outlook this Monday, upping estimates for both comparable and net sales, and also announced the departure of Executive Chairman Arthur Martinez.


Both comp and net sales are expected to increase off the back of a strong holiday performance - Instagram: @abercrombie


Comparable sales are now expected to increase by high-single digits, as opposed to the low-single digits reported in the brand’s previous outlook. Net sales should also now be up low-teens, compared to a previous estimate of an increase in the mid- to high-single digits.
 
The predicted gross profit rate remains roughly in line with that previously stated, down approximately 100 basis points from last year's rate of 59.3%.

The impact of the Tax Cuts and Jobs Act of 2017 is still being analysed but the company is expecting to have to deal with a large income tax charge in the fourth quarter, due to a one-off deemed repatriation tax on accumulated foreign earnings.
 
Chief Executive Officer Fran Horowitz indicated that stronger-than-expected holiday sales helped boost the improved outlook, commenting, "We are pleased by our performance across all brands and channels during the holiday season, with continued strength at Hollister, and the Abercrombie brand on track to deliver positive comparable sales for the quarter.”
 
The brand has also announced that Arthur Martinez will step down from his role as Executive Chairman of the Board of Directors on February 3, 2018, at which time Terry Burman will step in as Non-Executive Chairman.

Both Martinez and Burman joined the brand’s Board in January 2014, and Martinez has been in his current position since December of the same year. Before this, he worked in a number of senior executive positions at companies including Saks Fifth Avenue, PepsiCo and Kate Spade, having also led the turnaround of Sears as the brand’s CEO in the late 1990s.
 
Burman also has a long track record in the retail industry, particularly in the specialty jewelry sector. He is currently Chairman of the Board of Tuesday Morning Corporation and previously served as President and Chief Executive Officer of Barry's Jewelers, and Chief Executive Officer of Signet, among other senior positions.
 
“I am proud of the demonstrable progress that Abercrombie & Fitch is making under the leadership of Fran Horowitz, who was appointed Chief Executive Officer early last year,” stated Martinez, explaining, “With the Company on a solid trajectory, this is the right time to hand over Board leadership to Terry, who has outstanding credentials as a retail industry leader and is the right person to assume the role."
 
Abercrombie & Fitch Co. is a New Albany, Ohio-based specialty apparel and accessories retailer operating through three brands: Abercrombie & Fitch, Hollister and Abercrombie Kids. The company has a worldwide network of over 1,000 stores with locations in the Americas, Europe and Asia.
 
The company’s fourth quarter and full year 2017 results are slated to be released on March 7, 2018. 

Copyright © 2024 FashionNetwork.com All rights reserved.