|Teen apparel store Abercrombie & Fitch will close 60 shops.|
Abercrombie & Fitch is hanging by a thread. Ever since the Supreme Court laid the hammer on the company it's nosediving fast. The company lost a federal lawsuit issued by a woman who was fired out the cannon for wearing a hijab.
The decision now puts all retailers on notice about discriminating workers and potential hirers.
The teen themed retailer also tried to rebrand its image by rolling out its fall catalogue and trying make trendy discounts for the school year.
The company based out of New Albany, Ohio outside of Columbus has seen changes in the past three years. One being it's controversial CEO being fired out the cannon.
The former CEO Mike Jeffries and his boyfriend ruined the company. They instigated this policy where employees had to "look a certain way" in order to get a job at their stores. Often many people of color were rejected from the job because they didn't look the part. They would spend the company earning on lavish planes and boats. They would have the private plane and home decorated with hunky men wearing A&F clothes and cologne.
The company decided to close 60 stores across the U.S. and Canada. We don't know which ones would be affected
There's biggest obstacle is getting a former Sears Holding Group CEO to turn this company around.
Arthur Martinez, left Sears/Kmart after troubling years there. Now he's on board another sinking ship.
He's got two years to do something or he'll finding the cannon is ready to load him out too.
Sears has at leas than two years to turn around or face extinction. The company has struggled since the merger with Kmart. Now Kmart is on the verge of closing all their stores. Sears may soon follow.
A&F is still around but I'll give it at least five years before a new fad comes along and wipes this fad into the thrift stores.