Abercrombie accedes to bargain-hunting consumers

11/19/2009 | Bloomberg Businessweek

After years of declining to trade status for sales growth, high-end teen retailer Abercrombie & Fitch is marking down its trendy apparel in an attempt to stem declines and bring young customers back to its racks. As competitors cut prices last year in the face of a declining economy, Abercrombie, concerned about the long-term effects on its brand, held fast to its higher price tags. The result has been eight quarters of same-store sales declines, capped by a 22% drop in the most recent period.

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