NEW YORK (AP) — Teen clothing chain Abercrombie & Fitch Co., responding to reports that it was in talks with interested buyers, says it’s in preliminary discussions with several parties about a “potential transaction.”
The company’s statement Wednesday that it had received “expressions of interest” came after news reports this week that the New Albany, Ohio-based chain was in talks with at least two possible buyers. Abercrombie & Fitch says it doesn’t plan to comment again until the discussions are concluded.
Like other teen fashion retailers, A&F has been hurt by changing teen tastes as they shop online more or prefer fast-fashion purveyors like H&M or Forever 21. Abercrombie has tried to tweak its brand to attract new shoppers. It dumped sexy ads, removed topless male models from its ads and updated its fashions.