Consumer demand isn’t the problem this coming holiday season—it will be getting products to the shelves on time, according to the CEO of apparel retailer Land’s End, Jerome Griffith.
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.
“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,” Griffith said in an interview on CNBC’s “Power Lunch.”
The factory shutdowns stem from the ongoing Covid-19 pandemic and have made it difficult to accurately predict the company’s performance this holiday season, he elaborated.
Bottlenecks exist throughout the supply chain, Griffith said.
“You’re seeing factories having products completed, not being able to book containers. Containers coming over on ships, but the ships not being able to get into harbors. And once they get into harbors, a lack of truckers driving goods from harbors to wherever they need to go,” he added.