Even before Abercrombie & Fitch CEO and douchenozzle Mike Jeffries started getting pummeled for his 2006 comments about sizing his clothes to fit "cool, good-looking" kids only, the company was on the decline domestically.
Even newer numbers have shown that revenue dropped 17% in the first quarter of the year, which Jeffries has attributed in a statement due to "more significant inventory shortage issues than anticipated, added to by external pressures." The L.A. Times reports that it lost $7.2 million, or 9 cents a share after losing $21.3 million, or 25 cents a share, during the same period a year earlier.
Off the books, since it's totally unfathomable that popular kids circa 2013 have less interest in dressing like popped-collar jackasses, Buzzfeed via The Daily Mail claims that Abercrombie executives are also partly attributing their revenue loss to the involvement of Jeffries' long-time boyfriend Matthew Smith, whose role as an unofficial executive in the company has long been a source of ire. Smith receives daily copies of store sales numbers and daily revenue accounts. He also assesses various Abercrombie stores on Black Friday and reports back to Jeffries.
Last November a lawsuit filed against Abercrombie by a former company jet pilot fired for being "too old"— who, after a 40-page Aircraft Services guideline written by Smith emerged, claimed that Smith was acting as a legal representative for the company — was settled out of court.
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