CFO Jane Nielsen said the company will continue work on the Way Forward Plan in Fiscal 2018 to bring demand back to the business.
Women’s apparel comps rose 2 percent, but the men’s business fell 6 percent for the quarter.
Rue 21 is already closing 400 stores, but could close more.
Real and faux fur trimmed items will be popular for fall.
Apparel was a highlight in the quarter, though revenues overall were not great.
Analysts say strategic buyers tend to have difficulty merging specialty retailers.
The company so far has raised $105 million.
Retail and apparel shares generally were down in mid-day trading.
Dillard’s bested Wall Street’s EPS estimate by 10 cents.
The company will also expand its e-commerce presence to seven new European markets.
Abercrombie said there’s “no assurance” any discussions will lead to a definitive agreement.