Abercrombie & Fitch strikes me as a metaphor for the entire U.S. economy.
Despite an ongoing unemployment crisis, and increasingly weaker consumers, Abercrombie’s sales are up, profits are up and the company’s CEO Michael Jeffries knows how to talk enough smack to keep his brand in the news.
Abercrombie’s announcement Michael “The Situation” Sorrentino of MTV’s raunchy reality show “Jersey Shore” was sullying its “aspirational” image was a brilliant publicity stunt. It distracted us from the gloomy outlook for the retailer, as well as for the economy, in the months ahead.
Click here to read my column in The Sunday Wall Street Journal.