By the beginning of next year, Abercrombie & Fitch will definitively close its flagship stores in Brussels, Paris and other cities. The American fashion group is focusing more and more on smaller stores.
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Abercrombie & Fitch seems to be on the rebound: after a record loss in the first quarter, the fashion group now reports a profit of 5.5 million dollars. Turnover, however, continues its drop.
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Abercrombie & Fitch saw its losses grow by an astonishing 1180 % in the previous quarter, while turnover dropped by a third due to the Covid-19 crisis.
Abercrombie & Fitch has achieved virtually stable sales over the latest quarter, but its profits fell sharply. The American clothing company expects that import duties resulting from the Sino-American trade war will have a negative impact in the fourth quarter.
A change of course for Abercrombie & Fitch: the fashion chain is going to close three flagship stores. Its new focus will lie on smaller stores, while 85 stores will be revamped.
At the presentation of its latest quarterly results, American fashion company Abercrombie & Fitch has indicated it will shut down about sixty stores this year. For each of those, the rental agreement will end this year anyway.
American fashion company Abercrombie & Fitch halted talks with potential buyers and says it will continue its current strategy. The decision had an immediate negative impact on the brand’s share.
Fashion company Abercrombie & Fitch suffered a huge loss once more in the first quarter of 2017. Despite that, the board said there is plenty of interest for a possible acquisition.
American clothing brand Abercrombie & Fitch has enlisted an investment bank to look at its options if it were to sell the fashion company, although this does not mean it will definitely be sold.
When it published its latest financial results, American fashion company Abercrombie & Fitch revealed it will shut down another sixty stores in the United States as the company's turnover keeps slipping.
For the first time in 15 years, Abercrombie & Fitch launched a new store formula, focusing on the customer experience and without several of its trademark traits, like the excessive use of perfume.
American fashion company Abercrombie & Fitch has feverishly been trying to clean up its image, following several scandals and marketing criticism. This time, it wiped the slate clean on Instagram.
For the 14th straight quarter American fashion company Abercrombie & Fitch failed to publish positive results, with lower turnover for both Hollister and Abercrombie & Fitch.
American fashion label Abercrombie & Fitch is clearly heading into a new direction with its new ad campaign, with fewer half-naked men and more models from with other origins.
COO Jonathan Ramsden handed in his resignation at Abercrombie & Fitch. On 15 June, he will quit the company that also has had no CEO since Mike Jeffries left at the end of 2014.
Hollister's new formula has to help put parent company Abercrombie & Fitch's results in the right direction. It has already been implemented in several stores, but its effect on turnover should increase soon.