The youth retailer performed well for the year but felt the impact of inventory delays and Omicron in the fourth quarter.
Looking ahead, Horowitz says she sees “a healthy and engaged consumer” despite the challenges of Covid, inflation, and geo-political events. Last year, A&F reduced the number and depth of its promotions and raised some prices. This year, the company plans to stick to the program, which mitigates the impact of inflation.
Stores will be smaller, and more varied in terms of presentation. “In our tool kit, we’ve got all sorts of stores sizes and layouts,” said Horowitz. The company is leaning towards more off-mall locations. The first Gilly Hicks freestanding location opened last summer in Columbus, Ohio. The brand also has 25 side-by-side locations next to Hollister stores and 60 shops-in-shop locations, or Gilly Hicks carve-out areas at the back of Hollister stores.Of the 50 openings seen this year, A&F did not break out how many A&F, Hollister or Gilly Hicks would open.
Dresses gaining popularity across the brands, and are being lifted by what Horowitz said would be a record year for weddings ahead.By division, Hollister’s fourth quarter sales rose 2 percent to $668.78 million last quarter, from $655.42 million in the year ago period, and were down 6 percent from the $710.54 million generated in the 2019 period.
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