money troubles

Abercrombie & Fitch to Take It Slow in Europe, Focus on ‘Under-Penetrated Markets’

Shirtless male models outside of Abercrombie and Fitch
Shirtless male models outside of Abercrombie and Fitch

After sales decreased 26 percent at its international stores during this year’s second quarter, Abercrombie & Fitch will postpone its plans for further expansion across Europe and Asia. Planned Hollister outposts will also take a hit, but to a lesser extent — presumably because their electricity costs are minimal. Abercrombie CEO Mike Jeffries explained to WWD that the cutbacks will limit “cannibalization” — no, the company’s buff-yet-skinny models won’t be forced to eat each other, only to do push-ups — which is when the target markets of recently-opened stores abroad have overlapped. Moving forward, the company plans to focus on “under-penetrated markets” instead. While that sounds like good news for the world at large, New Yorkers, however, will be left to deal with a greater number of confused tourists trying to find A&F’s flagships on “Avenue Five” or “the Broadway Street.”

Abercrombie Curtails European Expansion Plans