CNNFN writes article about No more sex at Abercrombie & Fitch. Stock soars.:
By Paul R. La Monica @lamonicabuzz
abercrombie buzz
Abercrombie & Fitch is no longer selling sex. And that’s great news for the
company.
The retailer reported sales and profits that topped Wall Street’s
forecasts Friday morning. The stock soared more than 25% on the news.
Abercrombie & Fitch (ANF) is trying to change its image to win back
fickle teen shoppers. It seems to be working.
Overall sales were flat in the third quarter, a huge improvement from
recent quarters.
Same-store sales were even up 3% at the company’s younger-skewing
Hollister chain and also increased slightly for Abercrombie & Fitch
internationally.
It’s an impressive rebound for a company that was once one king of
America’s shopping malls.
Sales started to plunge in the past few years as the shtick from former
CEO Mike Jeffries wore thin.
The retailer often pushed the envelope with scantily clad models in
ads, its catalogs and the stores.
CNNFN Article Source Here.