Abercrombie Gets Bitten
Sleep tight, Abercrombie & Fitch (Stock Quote: ANF) shareholders. The cimex lectularius have apparently stopped biting.
Yeah, we're talking bedbugs, people.
Abercrombie's stock sank 2.5% on July 2, far outpacing the Dow's fall, on news that the preppy teen clothes-seller had closed a second store in New York due to a bedbug infestation. Those little bloodsuckers (literally) forced Abercrombie to shut its SoHo New York outpost Thursday, which was followed by a closing of its South Street Seaport site Friday for the same reason. The SoHo store reopened Saturday, while the South Street location stayed shut through the long holiday weekend.
The stock performed better Tuesday on the news the SoHo store was back in business, while Abercrombie spent its time petitioning New York City's mayor's office for help in dealing with the problem.
Oh come on! For a company that prides itself on its marketing savvy, Abercrombie really has us scratching our heads with its clueless behavior. And we assure you it's not due to tiny critters feasting on our scalps.
If Abercrombie really wants to say good night to its bed bug problem, it should spend more time stamping out insects in its inventory and less time crying to City Hall.
Otherwise, it should just change its name to Abercrombie & Fidget and forget it.
Dumb-o-meter score: 75 -- Yes, this story was not only dumb, but gross.