Abercrombie & Fitch Co. (ANF)'s soft-porn ads and nightclub vibe once delighted American teenagers and infuriated parents. Today, many aren't even paying attention.
The once-edgy brand has lost a third of its market value in the past year and is grappling with falling store sales in Europe and the U.S. While the retailer blames the economy for its woes, brand consultants say Abercrombie has failed to change with the times. Today's teens are underwhelmed by the half-naked models and blaring, dimly lit stores. And they're less inclined to wear Abercrombie's uniform of denim and graphic Ts.