Dampened by three straight quarters of declining sales, Abercrombie & Fitch says it’s planning to shake things up in hopes of boosting profits. Up first on the agenda: lowering prices and focusing more on its target audience of tweens and 20-somethings. Abercrombie CEO Mike Jeffries says he plans to start reducing prices by the end of the year, with “most dramatic” cuts happening at spinoff stores like Hollister and Abercrombie Kids.
Abercrombie & Fitch Plans Price Drops
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They would do far more sales if they would bring back the XL size. I don’t understand why they only want to appeal to less than 1/2 of their target audience…. Both Abercrombie & Fitch and Hollister seem to have more sales lately—must be the only way they can move a lot of their inventory.