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Clothing Retailers Reporting Strong Sales
Several clothing retailers reported earnings this week. Reactions to their results were mixed, but the general trend regarding sales was positive.
Consumers seem to be in a healthy position, buying more than before the pandemic. Abercrombie & Fitch even had its best Q3 in terms of sales since 2014!
Here are the full quotes in case you're interested:
- $ANF "Total sales rose 10% to last year and were up 5% to Q3 2019, and we achieved our highest Q3 sales since 2014 despite industry-wide supply chain constraints and the removal of 1.1 million growth square feet from our store base last year. Our largest and most established market, the U.S., outperformed with sales up 17% on a 1 year and 12% on a 2-year basis."
- $AEO "This quarter, we delivered record revenue of $1.27 billion, reflecting growth of 24% from 2020 and an increase of 19% to 2019."
- $URBN "Total company sales grew by 15% to a third quarter record of $1.13 billion, driven by total Retail segment comp sales increase of 14%. Strong consumer demand across most categories plus skilled execution by our teams drove nicely positive Retail segment comps at all brands. Total sales were driven by robust strength in full-price selling, which resulted in a record-low URBN third quarter markdown rate."
- $GES "Third quarter revenues were $643 million, up 13% to last year and up 4% compared to LOI. This exceeded our expectations as our Americas Retail, European wholesale and licensing businesses all outperformed. Overall, the 4% revenue increase to pre-pandemic LOI was a result of growth in our European business, driven by wholesale, including a shift into sales from Q2 to Q3 as well as e-commerce."
- $GPS "Despite the supply chain disruption, comp sales were up 5% on a 2-year basis, with 3 of our 4 brands delivering positive 2-year comps. Net sales were down 1% to 2019, which includes an estimated 8% point impact due to supply chain headwinds."
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