Mike Jeffries, the CEO of Abercrombie And Fitch, is probably wishing he can take back the ugly remarks he made in reference to what his customer aim is. Jeffries, who certainly doesn’t meet his description, wanted his clothes to be worn by “cool, good-looking people.” His remarks caused outrage and rightfully so! The CEO has since apologized for his remarks but many do not find him to be sincere. Now, I’m sure the CEO is wishing that he would have just kept his remarks to himself since the sale of his clothing line has plummeted! Find out exactly how much the company has lost below.
On Friday, the company said they have taken a 17 percent cut in the first quarter of U.S. sales. The company is also predicting future profits to face cuts as well. Jeffries claims that the cuts are due to a shortage of inventory but many believe it’s because he made such harsh remarks.
