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As a result, this Monday has become the worst trading day for the American youth clothing retailer since November 2000.
Arthur Martinez said that the board of directors, supported by financial advisers, comprehensively considered all the factors. The company’s management concluded that the best way to increase Abercrombie & Fitch’s value for shareholders is strict implementation of the business plan, and everything possible will be done to implement the financial recovery plan. He also added that the concern will adhere to decisive actions to increase profitability and share prices. Arthur Martinez said he believes in business prospects and potential opportunities of the company's brands.
American Eagle and Express companies showed interest in buying a stake in Abercrombie & Fitch this spring. Jefferies’ expert Randal Konik said he was not surprised that the deal eventually fell through, as the affairs in the clothing division are not going well and the future of this business remains uncertain. He also added that only a small number of potential sponsors showed a really serious interest in the deal with Abercrombie & Fitch. This can be explained by the fact that benefit from the merger with the group will not cover costs that the buyer will incur as a result of an agreement with the company. And Abercrombie's shareholders would in any case lose their profits if the deal was approved, Randal Konik added.
source: cnbc.com
Arthur Martinez said that the board of directors, supported by financial advisers, comprehensively considered all the factors. The company’s management concluded that the best way to increase Abercrombie & Fitch’s value for shareholders is strict implementation of the business plan, and everything possible will be done to implement the financial recovery plan. He also added that the concern will adhere to decisive actions to increase profitability and share prices. Arthur Martinez said he believes in business prospects and potential opportunities of the company's brands.
American Eagle and Express companies showed interest in buying a stake in Abercrombie & Fitch this spring. Jefferies’ expert Randal Konik said he was not surprised that the deal eventually fell through, as the affairs in the clothing division are not going well and the future of this business remains uncertain. He also added that only a small number of potential sponsors showed a really serious interest in the deal with Abercrombie & Fitch. This can be explained by the fact that benefit from the merger with the group will not cover costs that the buyer will incur as a result of an agreement with the company. And Abercrombie's shareholders would in any case lose their profits if the deal was approved, Randal Konik added.
source: cnbc.com
