Abercrombie Shares Shoot Up

Rumors are floating around that Abercrombie & Fitch Co. has hired Goldman Sacs Group to help advise the company amidst pressure from investors. As a result, the clothing retailer’s stock saw a short-term boost today, going up to 7% at one time, averaging out to gain of 5.4%.

A&F has suffered quite a few setbacks: sales are down across the globe, and they are struggling to compete with H&M, American Eagle, and Forever 21. Many stores have been forced to close and plans for new international stores have been frozen. If indeed the rumors are true and Goldman Sacs was hired, a buyout or liquidation could be in store for Abercrombie in the near future.

Perhaps they should have thought of this before they charged us $80 for a skirt that doesn’t cover our butt cheeks. Just a thought.

For more information, visit wwd.com

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