Things aren’t going to so hot over at Abercrombie these days. Even with their recent decision to drop the brand’s logo, Abercrombie’s sales keep falling.
On friday, the company announced that their sales were “below expectations” for the third quarter in a row.
The company’s stock has continued to take a hit and is down 14% to a two-year low price of $30.43 per share. The brand’s sister store Hollister isn’t fairing any better. Hollister’s flagship stores are struggling and the brand is doing everything to get people back in stores, including replacing their “surf-inspired” wood porch entrances, with standard glass entrances.
We think the store might get a boost in sales, if they simply turned up the in-store lights a little, and maybe poured less perfume into the air conditioning.
The company said that Hollister “continued to under-perform relative to A&F,” especially in Europe. “Weakness in tops, particularly fleece and male graphic tees, more than offset positive trends in jeans and dresses,”.