Almost everything has gone against Abercrombie & Fitch Co. — a one-time poster child for international expansion that now finds itself repositioning both at home and abroad.
The company is closing stores in the U.S., particularly in its abercrombie kids business. It’s scaled back on international expansion, where key flagships have been cannibalized by newer stores. And its fashions have missed the mark. Abercrombie warned earlier this month that it was going to take a hit and on Wednesday said second-quarter earnings fell 52 percent with a 26 percent comparable-store sales drop in its international stores. U.S. stores posted their first comp drop since 2009.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"