Wednesday, May 10, 2017|4:24 p.m.
New York City– Teenager clothing chain Abercrombie & & Fitch Co., reacting to reports that it was in talks with interested purchasers, says it remains in preliminary conversations with several parties about a “possible transaction.”
The company’s declaration Wednesday that it had gotten “expressions of interest” followed news reports today that the New Albany, Ohio-based chain remained in talks with a minimum of 2 possible purchasers. Abercrombie & & Fitch states it does not plan to comment once again till the discussions are concluded.
Like other teen style sellers, A&F has been harmed by altering tastes as teens store online more or select fast-fashion purveyors like H&M or Permanently 21. In the in 2015 or two, teenager sellers Aeropostale Inc., American Garments Inc. and Wet Seal have declared bankruptcy.
Abercrombie has actually tried to tweak its brand name to draw in new shoppers. It disposed attractive advertisements and upgraded its styles. It’s likewise closed some stores. But the chain’s sales have actually stayed weak. A&F is anticipated to report its 5th straight quarter of decreases at recognized stores, a key metric, when it releases first-quarter outcome on Might 25.
In February, Abercrombie & & Fitch had actually promoted Fran Horowitz from president and chief retailing officer to CEO. Horowitz replaced Michael Jeffries, who stepped down in 2014 amidst much debate after leading the retailer for more than Twenty Years.
A&F said in its declaration Wednesday that there was “no assurance” the discussions will lead to a conclusive arrangement or that a transaction will happen.