Besieged US retailer Abercrombie & Fitch cuts profit outlook

MAYBE the "cool" kids don't want to shop at Abercrombie & Fitch, either.

The teen clothing retailer, whose CEO courted controversy by saying the chain's goods were only for "cool, good-looking people," cut its annual profit forecast and predicted sales would drag for the rest of the year.

The company was recently forced to apologize after comments Abercrombie CEO Mike Jeffries made in a 2006 Salon interview resurfaced on the Internet.

Jeffries at the time unabashedly called the company "exclusionary," and the retailer has also been under fire for only offering clothing up to a size 10.

Abercrombie blamed inventory shortages for its plunging first-quarter sales. Sales at retail stores open at least a year and on its website dropped 18% at its Hollister chain and 13% at its namesake Abercrombie & Fitch brand.

Read more at NYDailyNews.com



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