Abercrombie Is Making Three Drastic Changes To Lure Back Teens
Reuters
The teen apparel maker's same-store sales fell 10% in fiscal 2013, and in the most recent quarter, sales were down 7%.
The company is struggling to lure fickle teen shoppers, who are spending less on apparel than previous generations.
The company is taking three steps to bring back customers. They are:
1. Ditching the logo business. The company said on an earnings call Thursday that its logo business would be reduced to "practically nothing" in North American markets by next spring. This is a seismic change in Abercrombie's business strategy. Loud logos, as pictured below, have been central to the teen apparel maker's fashions for decades.
Reuters
Reuters
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market