Abercrombie name to shrink from clothing
The Abercrombie & Fitch logo has lost the power it once wielded.
Shares of Abercrombie & Fitch Co. tumbled on Thursday as the company reported weak sales.
The retailer is trying to stock trendier clothing — and it turns out that means stripping off the once-prized Abercrombie logo. It is a major change for the retailer, whose mark long held major cachet with teenagers.
“Personal style, specifically with teens, is becoming less about fitting in and more about standing out,” said Lauren Wolfenden, a senior advisory analyst at WGSN, a fashion trend consultancy. “A&F has wised up to this by phasing out the cookie-cutter logo-ed product look.”
A&F and other traditional teen stores have to adapt in an uphill battle to turn their businesses around as mall traffic drops and shoppers' tastes change. A slowly recovering economy is making parents and teens think twice about splurging on clothes. Expensive standbys such as Abercrombie also have lost business to “fast fashion” chains such as H&M, known for quickly churning out trendy $9 tops.
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