Abercrombie & Fitch Rises On Latent Signs Of Recovery

Abercrombie is in the process of overhauling its business by changing its long standing strategies to align itself with the prevailing market conditions. It is clearing its basic logo merchandise portfolio with heavy discounting to make way for trend and fashion relevant products. During the first quarter, in addition of inventory clearing promotions, the retailer spent an additional $26.9 million to clear merchandise that wasn't selling, some of which dated back to 2013. This brought gross prof...