The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
COLUMBUS, United States — Abercrombie & Fitch Co. ended talks on a potential transaction, causing shares to plunge as much as 17 percent in early trading.
The retailer of preppy apparel reaffirmed its commitment to its brands and chairman Arthur Martinez vowed “sound, aggressive action to deliver enhanced performance and long-term shareholder value,” according to a statement Monday. The company’s board decided the best path forward “is the rigorous execution of our business plan.”
Abercrombie’s shares, which dropped to as low as $10.11 Monday in premarket trading, have gained about 1 percent this year through Friday’s close. The stock was buoyed in May when the company was said to be in talks with American Eagle Outfitters Inc. and Express Inc. as it struggles to lure back to its stores shoppers who increasingly have migrated online.
The retailer didn’t disclose more details about the proposed transaction.
By Jonathan Roeder; editors: Nick Turner, Lisa Wolfson.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.