Abercrombie & Fitch Ends Talks to Sell Itself

Abercrombie & Fitch Ends Talks to Sell Itself

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Abercrombie & Fitch’s flagship store in Columbus, Ohio. The retailer said it would focus on carrying out its own strategic plan as a stand-alone company.

Credit
Dustin Franz for The New York Times

Abercrombie & Fitch, the fashion retailer that was once a must-have among teenagers, said on Monday that it would end talks to sell itself.

The company, based in New Albany, Ohio, said that it would instead focus on carrying out its own strategic plan as a stand-alone company.

Shares of Abercrombie tumbled 11 percent in premarket trading on Monday.

The announcement came two months after Abercrombie said that it was in “preliminary discussions” with several unnamed suitors about a potential sale.

“After a comprehensive review of all relevant factors, with the assistance of our financial adviser, the A&F board of directors determined that the best path to enhance value for stockholders is the rigorous execution of our business plan,” Arthur Martinez, the Abercrombie executive chairman, said in a news release on Monday.

“We are committed to taking sound, aggressive action to deliver enhanced performance and long-term stockholder value,” he added.

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