Abercrombie & Fitch continues to struggle

America's tip retailers in trouble

Quick! Somebody call Mike “The Situation” Sorrentino of MTV’s “Jersey Shore” fame. Abercrombie Fitch competence indeed wish him wearing their garments in open again.

Abercrombie Fitch reported a bigger-than-expected detriment on Tuesday. Same-store sales during a AF stores and Hollister sequence fell in a second entertain too. The association also warned that a opinion for a rest of a year will be “challenging.”

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Abercrombie (or should we contend Abercrumble?) Fitch batch plunged scarcely 20% in early trade on a news. AF’s batch is now down some-more than 30% this year.

Abercrombie Fitch (ANF), like many other mall-based attire retailers, has struggled to stay relevant. The strain “Summer Girls” by LFO, that praised a demeanour of girls in Abercrombie Fitch, was expelled proceed behind in 1999. Nobody’s singing about AF now.

Younger consumers are reduction meddlesome in garments with a company’s trademark on it and are instead opting for cheaper, quick conform from a likes of HM, Zara, Uniqlo and Forever 21.

Pacific Sunwear and Aeropostale both filed for failure this year. American Apparel did so final year. Gap’s (GPS) sales are hurting. And some-more diversified retailers like Macy’s (M), Kohl’s (KSS) and JCPenney (JCP) are struggling to attract teenagers and immature adults too.

Related: More difficulty during a mall. Gap sales penetrate again

But investors were anticipating that Abercrombie Fitch competence be means to spin things around interjection to a efforts of executive authority Arthur Martinez, who ran Sears (SHLD) behind when that tradesman was still an American icon.

Under Martinez, a tradesman has de-emphasized most of a logo-based attire that were once hugely renouned during AF and Hollister.

The association also has toned down a controversial, overly sexualized imagery that was prevalent underneath a care of former CEO Mike Jeffries — who left a association in Dec 2014.

Jeffries was criticized for comments he done about usually wanting “cool, attractive people” to wear his company’s clothes. It wasn’t until late 2013 before a association finally began to offer and sizes.

AF was also pounded for carrying young-looking, scantily-clad models in many of a catalogs and advertisements.

Related: Retailers all opposite America are shutting stores

An ex-pilot for a company-owned Gulfstream jet (since sold) pronounced in an age taste lawsuit filed opposite a association a few years ago that Jeffries had an aircraft primer that listed dress mandate for masculine models operative on a plane.

But even yet AF has been changing a picture underneath Martinez, consumers aren’t flocking behind to a stores. The company’s altogether sales have now depressed for 14 buliding in a row.

Martinez pronounced in a gain recover that reduce trade during a flagship stores were weighing on AF’s results.

He combined that diseased sales during stores in renouned traveller locations in a U.S. are also spiteful a company. Economic doubt in Europe and Asia and a stronger U.S. dollar have done unfamiliar travelers reduction peaceful to come to a U.S. to shop.

Related: Nearly 44,000 sell workers have been laid off in 2016

So can AF spin things around? Or will investors start yearning for a days of Jeffries again? Sex did sell during a association after all … for a time during least.

Martinez urged investors to sojourn patient.

“We are focusing on a right priorities and we design to see traction in a business as we deliver new product and deposit in selling to expostulate recognition and aptitude for a brands,” he said, while adding that it is “a severe environment.”

Wall Street is still doubtful though.

Cowen Co. researcher Oliver Chen is holding a wait-and-see approach. He wrote in a news Tuesday morning that “changes will take time as a association needs to beget renewed recognition and traffic.”

FBR Co. researcher Susan Anderson remarkable that it was also discouraging to see that sales were down in both a U.S. and a company’s general stores. So a company’s problems might run deeper than a decrease in traveller shoppers in America.

Related: Why Americans aren’t selling compartment they drop

Analysts do seem to conclude a fact that Martinez has toned things down during both a AF and Hollister stores. But a association might now breeze adult being only a small too plain vanilla. There’s zero to make it mount out.

“AF still has most work before a brands are easy to full health,” wrote Neil Saunders, CEO of sell investigate organisation Conlumino, in a news Tuesday.

“The brands still need a stronger clarity of temperament and concentration in what stays a really swarming and rival marketplace,” Saunders added.

Don’t design AF to move behind a argumentative wardrobe anytime soon. But a association clearly needs to do something to remonstrate immature consumers that AF and Hollister attire can be cold once more.

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