Abercrombie & Fitch was steadfastly opposed discounting in late 2008, but the recession has changed things, including the demand for Abercrombie's clothing. The hip clothing retailer began embracing discounting last year. The Wall Street Journal reports that Abercrombie plans to continue discounting through the spring.
Abercrombie & Fitch Co. said Wednesday that it will continue its uncharacteristically high levels of discounting through the spring in order to boost store sales.
Jonathan Ramsden, chief financial officer of the New Albany, Ohio, teen clothing retailer, said it is willing to sacrifice margins if necessary to improve sales. Average unit prices, which were down 14% in February on higher discounting, will continue to be "down quite significantly" for the first half of the year, Mr. Ramsden said.
The Wall Street Journal article also says Abercrombie & Fitch has identified 200 underperforming stores which it plans to close when the leases expire. The WSJ says about half of the 200 underperforming stores half leases expiring within the next three years.
Fonte: Shopping Blog
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