SCD: UPS rolls out temporary facility closures amid network overhaul
SUPPLY CHAIN DIVE reports: UPS is temporarily closing several U.S. facilities to implement upgrades for its ...
RXO: COYOTE FILLIP GONEGM: SUPPLY CHAIN HITBA: CUT THE FAT ON THE BONER: STEADY YIELDMAERSK: SELL-SIDE UPDATESDAC: TRADING UPDATE OUT SOONTSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARDCHRW: PAYOUT UNCHANGEDWTC: NEW HIGH MAERSK: 'AFLOAT IN A SEA OF RISK' F: TARIFF TRAFFIC WARNINGHON: GAUGE THE UPSIDEXPO: STELLAR EARNINGS DELIVERYMAERSK: DEMAND DISRUPTION RISK
RXO: COYOTE FILLIP GONEGM: SUPPLY CHAIN HITBA: CUT THE FAT ON THE BONER: STEADY YIELDMAERSK: SELL-SIDE UPDATESDAC: TRADING UPDATE OUT SOONTSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARDCHRW: PAYOUT UNCHANGEDWTC: NEW HIGH MAERSK: 'AFLOAT IN A SEA OF RISK' F: TARIFF TRAFFIC WARNINGHON: GAUGE THE UPSIDEXPO: STELLAR EARNINGS DELIVERYMAERSK: DEMAND DISRUPTION RISK
SUPPLY CHAIN DIVE reports:
Dive Brief:
– Gap ended 2022 with inventory down 21% YoY to $2.4 billion, which executives said surpassed its goals to rein in stock levels.
– The company paid the price for clearing out product. Its merchandise margin fell by five percentage points YoY in fiscal 2022, with more than half of the increase from higher discounting.
– The reduction in inventory levels also benefited from a loosening supply chain, with less product stuck in transit compared to 2021, CFO Katrina O’Connell told analysts earlier this month. Going forward, executives expect sales and inventory to be more in balance.
Dive Insight:
Inventory pileups have plagued Gap, along with many of its peers in the apparel trade, since long before 2022 brought a sharp downtick in demand and surge in excess stocks.
Gap Inc.’s rush to shed inventory last year came as net sales fell 6% across the company, which owns the Old Navy, Banana Republic and Athleta brands in addition to its namesake banner. The reduction in stock represented a bright spot in an otherwise turbulent year — especially at Old Navy, which has struggled of late but historically is a source of strength for the company…
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