Desperate times call for desperate measures!
Abercrombie & Fitch has been hit hard during the recession, especially in the month of August when they saw 29% decrease in sales, is trying to get shoppers back in their stores by lowering prices.
Let’s be honest, a moose embroidered on a shirt doesn’t exactly warrant a high price tag especially when it’s for preppy teeny-boppers.
A&F’s Chief Exec Mike Jeffries spoke too soon when he said the company will not resort to cutting prices, but now they’re at the point where the have to!
Ha! Never say never, Mike.
So how are they doing it?
A&F has cut better deals with manufacturers, which will let them lower prices, which will debut in spring. Guess they’re planning on making bank during the holiday season.