A difficult year for retail has forced many classic brands to reshape their images, sometimes with extreme measures. For Abercrombie & Fitch that means changing one of its most important products: denim.
Private equity firm Sycamore Partners came closest to acquiring Abercrombie & Fitch Co, but could not meet the U.S. teen apparel retailer company's valuation expectations, people familiar with the matter said on Monday.
The back off from Abercrombie & Fitch on Monday about a potential sale shows that mergers and acquisitions for fashion retailers are not the easiest move, only braved by a select few and avoided after a certain age.
Abercrombie & Fitch Co. (Abercrombie) has announced it will not engage in any of the transactions it was considering to save the brand and instead will focus on its current strategy to increase shareholder value.
L Brands-owned Victoria's Secret Stores LLC has agreed to pay $12 million to settle a class action brought by 40,000 former employees who alleged the company's call in wages policy cheated them out of hourly pay.