The popular clothing company, Abercrombie & Fitch, reported that their profits doubled in the 4th quarter. Business in the U.S. as well as overseas has been booming. They reported a net income of $92.6 million, which is a big step from last year's $47.5 million. More stores have been popping up in Spain, Germany, UK, and many other countries, contributing to the economic status of Abercrombie & Fitch.
I was actually surprised when I saw this article. I feel that people have moved on from Abercrombie & Fitch. It seems like it's just one of those things that are "out". The article stated that people in the U.S. are more reluctant to go back to their old spending habits because of the recession. I'm guessing that Abercrombie is one of those stores that started out in the U.S. and is now making its way to other countries, making it something hip and new for them and 'out of style' for us.
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I think that focusing on international business was a smart step for Abercrombie & Fitch. I understand why business was going down. This company deserves to be applauded for taking their risk of international business in a time that their main US business was going downhill. If this move wouldn't have worked for them, it could have been awful for their business, but luckily it worked out!
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