SAN FRANCISCO, June 15, 2009 Abercrombie Chief Executive Mike Jeffries acknowledged a consumer price-consciousness "unlike anything I have ever seen." Abercrombie signaled it may be open to shedding its underperforming Ruehl chain of stores catering to twentysomethings. Analysts say that a rethink on Abercrombie's price and the viability of its Ruehl arm is welcome and long overdue. Wall Street would have to wait until 2009's latter half for confirmation that the changes would drive sales, but some analysts said turnover had hit a trough in the first quarter. "The company is taking steps in the right direction to fix the ship," said Jefferies analyst Randal Konik. Despite the lower-price pledge, Abercrombie will not embrace hefty discounts showcased by many rivals. Whereas shoppers at Aeropostale and American Eagle Outfitters stores are greeted by signs for 2-for-1 offers or other specials, Abercrombie plans to simply lower the initial ticket price on some of its offerings with little fanfare. |
| All rights reserved. |
| GME For The Best Business Strategy |
|
| GME NEWS |
 | |  | |  | |  | |  | |  |