Abercrombie & Fitch cuts its sales and profit forecast
August 25, 2022
Abercrombie & Fitch has lowered its full-year sales and earnings outlook after finding itself in an overstocked position with declining demand. “We expect macro headwinds to persist and have taken action to adjust receipts across brands to fuel winning categories for late fall and holiday… We have right-sized the Hollister inventory receipt plan for holiday and beyond,” CEO Fran Horowitz said.
Recent News
NHTSA Investigates Tesla Autopilot Again After Recent Software Update
Tesla Autopilot is once again the subject of an NHTSA investigation.
Home Depot Holds Halfway to Halloween Sale: Skelly’s Back
It’s halfway to spooky season, and Home Depot is celebrating.
Kaiser Discloses Health Insurance Data Breach
Health insurance company Kaiser is notifying millions of its current and former members about a data breach. The breach occurred when Kaiser shared patients’ information with third-party advertisers like Google, Microsoft, and X (formerly Twitter).
Satirical Site The Onion Acquired by Global Tetrahedron
The satirical news website, The Onion, has been sold by G/O Media to a group of digital media veterans.