Just a few months ago, Abercrombie & Fitch was in crisis.
Critics said that the teen retailer had stuck too close to its preppy roots and wasn't flexible enough to appeal to today's demanding teens. CEO Mike Jeffries was seen as being too controlling to compromise and turn declining sales around.
At one point, Abercrombie was even seen as a target for private equity firms who would take over and try to improve business.
But during Black Friday shopping, Abercrombie proved that business is booming again.
"Abercrombie and Hollister were the clear teen winners, with spectacular lines of teens looking to take advantage of half-off deals," said Eric Beder, an analyst at Brean Murray Carret & Co.
Teens, the top demographic this Black Friday, poured into Abercrombie stores, said Dorothy Lakner, an analyst at Caris & Co. Lines were longest in front of Abercrombie and Hollister, and the retailer has inventory under control again.
Abercrombie reported great results last month after Jeffries closed under performing stores in Europe and sales were up on better product.
But the Black Friday victory is just what investors have been looking for from Abercrombie because it shows that the great quarter wasn't just a fluke.
Now that interest in Abercrombie is strong again, the brand will have to focus on innovating product and keeping its fickle consumers intrigued.
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