Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Abercrombie & Fitch halts talks with buyers

US fashion retail group Abercrombie & Fitch has terminated discussions with potential buyers and decided to plough ahead with its existing strategy. 

It comes after the company – which owns Abercrombie & Fitch and sister brand Hollister – indicated in May that it was considering a sale.

Executive chairman Arthur Martinez said: “The board of directors determined that the best path to enhance value for stockholders is the rigorous execution of our business plan.

“We are generating solid comp store [like-for-like] sales momentum at Hollister and continue to refine and implement strategies to position the Abercrombie brand for revitalised performance.

“Our strong management team and dedicated people, the investments we have made in marketing, omnichannel and other strategies to drive sales, together with our relentless focus on operational efficiencies, all contribute to our expectation for improved trends beginning in the second half of the year, compared to the prior year period.”

Net sales were down 4% in the first quarter, ended 29 April.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.