Retail

Lands’ End CEO says factory delays are clouding holiday forecasts

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Consumer demand isn’t the problem — it’s getting the products to the shelves on time, according to apparel retailer Lands’ End.

The retailer’s stock closed down more than 9% on Thursday at $31.10. Although the company turned in better-than-expected fiscal second-quarter results, supply chain issues are making its outlook uncertain and driving down its stock price.

“You have countries that are important for manufacturing, like Vietnam. Right now, you have the south of Vietnam completely closed from the middle of July to at least the middle of September,” said Lands’ End CEO Jerome Griffith, in an interview on CNBC’s “Power Lunch.”

The factory shutdowns are a result of the ongoing global…



Source cnbc.com

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