Abercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer.
Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street’s expectations.
Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success.
Over the last seven years, Horowitz changed Abercrombie’s product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer’s past playbook.
She also overhauled the retailer’s store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer.
Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity.
To learn more about Abercrombie’s comeback and what’s ahead for the retailer after a year of meteoric growth, check out the video above.
Source: Business - cnbc.com
