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.