Remember when Abercrombie & Fitch‘s CEO affirmed what most of us already knew — that his brand’s clothes were only meant for thin, attractive, cool kids? Yeah, apparently everyone else remembers too, and the company’s plummeting business is proof.
A&F shares fell 10.4 percent to $34.35 this week after the company reported a seventh quarterly fall in same-store sales in a row and warned of a less-than optimistic prediction for the holiday season.
Now, in an attempt to make nice and win back some of its disillusioned customers, Abercrombie says it plans to expand sizes, colors and fits for all its styles next year. The new sizes, along with a new accessory line, are expected to appear in stores come spring.
While we suppose any teen-targeted brand becoming more inclusive is a positive thing, this is pretty clearly an act of desperation, not of good will; Basically, we see this as the business equivalent of a cool kid losing popularity because of some serious jackassery, and then turning to the not-so-cool kids the night before his homecoming party and saying, “Actually, you can totally come to my party,” for fear no one else will show up.