Abercrombie & Fitch Co. is refusing to discount despite the ongoing economic crisis. The Wall Street Journalreports that Abercrombie's prices have remained the same while rival teen stores like American Eagle and Quiksilver have cut prices.
Hip retailer Abercrombie & Fitch Co. suffered dismal November sales results last week, and one reason may be a bold tactic that is backfiring: while rivals are aggressively slashing prices to battle the weak economy, Abercrombie has refused to join the rush to discount.
Teen retailer American Eagle Outfitters Inc. had a buy-one-get-one-half-price sale this month for all its tops; Quiksilver Inc. marked down $50 shorts to $30; Aeropostale Inc. slashed some prices 70%. But Abercrombie's gray polo shirt is selling for $60, not much less than it did 18 months ago, when teenagers were still flocking to the mall.
Another thing Abercrombie is apparently not going to do in this economy is turn down the volume inside its stores. Surprisingly, no music starts playing when you visit the Abercrombie website. (via the Cut)
