- Abercrombie & Fitch’s shares soared 25% early Thursday morning after the retailer reported its fifth consecutive quarter of positive same-store sales growth.
- The company, which also owns Hollister and Abercrombie Kids, has been working hard to execute a turnaround by investing in its stores, closing unprofitable locations, improving its product assortment, and working on its marketing strategy.
- These photos reveal how it has changed.
Abercrombie & Fitch is back.
The clothing retailer, which also owns Hollister and Abercrombie Kids, saw its shares soar as much as 25% early Thursday morning after reporting its fifth consecutive quarter of positive same-store sales growth.
Same-store sales were up 3% overall at the company with a 1% and 4% increase at the Abercrombie and Hollister brand, respectively.
While sales growth had slowed somewhat during the quarter, the company has remained on an upward trend over the past year, proving that it is on the mend.
„The recovery at Abercrombie & Fitch is still a work in progress. However, turning around a once very troubled brand is far from easy,“ Neil Saunders, managing director of GlobalData Retail, wrote in a note to clients on Thursday.
He continued: „Progress and advancement do not all come at once; this is a step-by-step process that will build over time. We are satisfied that management is on the right road to recovery.“
The photos below reveal how the brand has changed over the past few years in order to execute this turnaround:
It has changed the nightclub aesthetic of its stores by turning up the lights, turning down the music, and putting an end to incessant cologne spraying.
Today, all of the stores are brighter, and there is not a whiff of cologne.
Shirtless models are a thing of the past …
Abercrombie was famous for its scantily clad models who greeted customers are the entrance of the store.
In 2015, the company put a stop to this and announced that it would no longer hire sales associates based on their looks.
… as are the racy shopping bags.
Today, Abercrombie opts for a simpler bag to appeal to the more sophisticated shopper.
See the rest of the story at Business Insider
Source: Business insider