Although the company is ending its wholesale arrangment with Amazon, it is seeking to increase its exposure with big and tall men.
But one blow came as a result of the company ending its wholesale relationship with Amazon. For fiscal 2021, wholesale revenues fell to $5.4 million as compared to $12.5 million in fiscal 2019. So as a result of the “volatility in the global supply chain, increasing lead times, lower margins and the shifting dynamics of the business,” Kanter said “the company and Amazon have agreed to end the wholesale relationship.
But it was the yearly sales figure — $505 million in fiscal 2021, a rise from $318.9 million in fiscal 2020 and $474 million in fiscal 2019 — that had the company banging its chest. Comparable-store sales for the year jumped 68.5 percent against fiscal 2020 and 14.2 percent against fiscal 2019. Specifically, he said sales of tailored clothing dipped a bit in the fourth quarter, dropping to 15.3 percent of the total from 18.4 percent in the third quarter, but he expects a rebound for spring as guys head back to the office and spring events kick off. In sportswear, he singled out Polo Ralph Lauren, Nautica and Reebok as among the top performers.
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