Abercrombie to Lower Prices, Focus on Being Sexy and Controversial

Miraculously clothed gatekeepers at New York's Abercrombie flagship.Photo: Getty Images

Abercrombie & Fitch Co. lost $26.7 million in the second quarter. In such a quarter of their third consecutive double-digit sales fell, and is changing! Executives finally achieved brand the dissonance between cost and its value. At last, they decided to lower prices, trying to sell clothes, people see a little in purchasing, focus on their biggest advantage: sexy young people like nude riding on horses through the woods. Chief executive Michael jeffries, said he learned something Ruehl off, in June: "we are very young. We really sexy! We are controversial. This is what we know how to do, the business that we own here and comfortable, we can travel around the world."
The "most dramatic" price reductions will take effect next quarter and be most noticeable at Hollister and Abercrombie Kids. More than 270 leases are up for renewal in 2011, and the chain is likely to shut some Abercrombie & Fitch stores. Jeffries said the label won't open any more flagships in the U.S., but plans to "accelerate the opening of international Hollister stores in 2010 and 2011." The Germans ought to have a greater appetite for scary dark techno caves during daylight hours than Americans do.