NEW YORK, May 1 (Reuters) - Abercrombie & Fitch Co (ANF.N) is laying off 170 workers at its Ohio headquarters, a company official said on Friday 1 May, as the clothing retailer seeks to cut costs in a recession.
"The company is committed to improving its efficiency," said Eric Cerny, an official in Abercrombie's investor relations division. "As a result it has implemented significant initiatives at its home office where it is in the process of eliminating approximately 170 positions." Cerny said there were just under 2,000 employees at the New Albany, Ohio, headquarters. Sales at the teen apparel retailer have been battered in recent months as the company has avoided discounting its merchandise. It laid off about 50 employees in January. (Reporting by Martinne Geller; Editing by Steve Orlofsky) |
Abercrombie & Fitch Co posted a higher-than-expected quarterly profit as it avoided steep discounts over the holidays and said it would lean more heavily on international markets for growth. 
U.S. teen apparel retailer Abercrombie & Fitch posted a much better-than-expected quarterly profit helped by cost cuts and said it plans to speed up its expansion in more profitable markets overseas, sending shares up 6 percent. 
Fierce is the battle against a pop diva's perfume. Abercrombie & Fitch, the apparel chain known for its racy marketing and casual look, has sued Beyonce Knowles to try and stop the singer from launching a new line of fragrances. 
Citigroup cut teen apparel retailer Abercrombie & Fitch Co to "sell" from "hold," saying sales shortfalls at the company will likely lead to continued negative earnings revisions. 
Abercrombie & Fitch Co reported a quarterly loss versus a year-earlier profit as sliding sales pummeled the teen retailer. 
Abercrombie & Fitch Co said on Wednesday 17 June it will close its money-losing Ruehl chain, sending its shares up 4.6 percent on relief the clothing retailer will soon focus on core brands. 
Abercrombie & Fitch Co's recent clearance activity with compelling discounts is leading to increased store traffic and sales, said FBR Capital Markets, while upgrading the apparel retailer a notch to "outperform". 
Retailers J.C. Penney Co Inc and Abercrombie & Fitch Co posted results that showed consumers were still wary about buying non-essential items. 
Jefferies and Co upgraded Abercrombie & Fitch Co to "buy" from "hold," and said Wall Street has already drastically cut its earnings estimates for the teen clothing retailer and fundamentals are about to trough. 
Abercrombie & Fitch Co (ANF.N) has laid off about 50 employees at its headquarters, a spokesman said on Friday, as part of what the teen retailer called its ongoing focus on managing expenses in the recession. 
Abercrombie & Fitch (ANF.N) has kept its cool in a recession, selling its pricey clothing at a premium. But a steady sales decline is making investors argue the brand must be practical -- and start to discount. 
U.S. teen apparel retailer Abercrombie & Fitch Co named advertising agency executive Jonathan Ramsden as its new chief financial officer on Friday, erasing a degree of uncertainty ahead of the key holiday shopping season. 
J.C. Penney Co Inc and Abercrombie & Fitch Co reported quarterly profits that beat Wall Street expectations on Friday, but came up short in their earnings forecasts, joining other U.S. 
