An absorbent article (10;100;200) includes a topsheet layer (16,17), a backsheet layer (18) and a subjacent layer (20, 20A-20D) between the topsheet layer (16,17) and the backsheet layer (18). A compressible fluid management layer (22;110;210) is positioned between the topsheet layer (16,17) and the subjacent layer (20, 20A-20D). The compressible fluid management layer (22;110;210) has an inner edge (22A) that defines an annular opening (28), with the annular opening (28) extending entirely through the compressible fluid management layer (22;110;210). The compressible fluid management layer (22;110;210) includes a first embossed feature (24) positioned at least at portions, within the annular opening (28), and adjacent to the inner edge (22A) of compressible fluid management layer (22;110;210), shaped to conform the shape of the inner edge (22A). A first embossed feature (24) is positioned within the topsheet layer (16,17) and the subjacent layer (20, 20A-20D). The absorbent article (10;100;200) also includes a second embossed feature (26) positioned lateral to the peripheral edges (31,33) of the compressible fluid management layer (22;110;210).