LAUNCHED IN 2010, THE SITCH ON FITCH BECAME THE INSPIRED, RESPECTED BRAND OF PASSION OVER THE ACHIEVEMENTS AND PRESTIGE OF ABERCROMBIE & FITCH CO. (ADMIRATION FOR ITS PAST GOING BACK TO 1892 AND FOR THE MODERN-TIME HEIGHTS OF THE MIKE JEFFRIES ERA); IT WAS OFFICIALLY, POSITIVELY RECOGNIZED BY A&F HOME OFFICE BY APRIL 2012, WITH A DIRECT EMAIL TO THE EDITOR-IN-CHIEF, DURING ITS GROWTH AS THE ONE-OF-A-KIND, MULTINATIONAL ONLINE PUBLICATION, WITH HIGH-GRADE PRESENTATION WHICH EVOLVED OVER ITS RUN, FOR RELEVANT, UNIQUE, IN-DEPTH BUSINESS, CULTURE, AND STYLE CONTENT FOR THE COMMUNITY OF CUSTOMERS AND ASSOCIATES WORLDWIDE (MONTHLY PAGEVIEWS SURPASSED 110K BY AUGUST 2012); AND IT WAS FOLDED BY SEPTEMBER 2015 AFTER THE DECEMBER 2014 RETIREMENT OF MIKE JEFFRIES AND THE EDITOR-IN-CHIEF'S DISTASTE WITH THE FURTHER DEGRADATION OF THE COMPANY BY ITS NEW MANAGEMENT. WITH CONTENT BY THE PERSPECTIVE OF DEVOTED CUSTOMERS AND ASSOCIATES FROM AMERICA, EUROPE AND FAR EAST ASIA, THE SITCH ON FITCH (2010-2015) REMAINS AS A HISTORICAL, ZEITGEIST ONLINE PUBLICATION OVER THE FINAL YEARS OF THE MIKE JEFFRIES ERA. THIS SITE WILL BE REVAMPED SOON TO OFFICIATE AN INTELLIGENT ARCHIVE FOR THE USE OF ALL PARTIES INTERESTED IN THE CONTENT PUBLISHED DURING THE PUBLICATION'S ORIGINAL RUN.

Saturday, January 21, 2012

Abercrombie & Fitch in Barcelona...FLOORED! And Plans for Europe Shift...

A&F Madrid will be the only Abercrombie in Spain for now...  |  (image source)
This is very disappointing news...

Abercrombie & Fitch has just made the decision to cancel its plans to open in Barcelona. The Company had been planning, since 2011, on opening a Barcelona flagship store - what would have been the second location in Spain - inside the previous Banco Vitalicio de Españia building addressed on the corner of Paseo de Gracia and Gran Via de les Corts Catalanes. Unfortunately, there has been a change in plans which could have repercussions in its greater plans for Europe.

Up until the end of 2011, A&F was awaiting to sign papers for the go-ahead in Barcelona - leasing the space and initiating its construction. It seems that while it waited, Abercrombie & Fitch had enough time to consider the future impact that the uncertain and ongoing economic conditions in Europe would have on its business growth. Financial European growth for A&F during the third quarter of 2011 slowed. The Company cited "macroeconomic headwinds" as a factor of this slow in growth because it is susceptible, naturally, to the effects of the economic environment. Tourism traffic itself slowed down and it plays an prominent role in the performance of A&F flagships located in global cities. Nevertheless, Mike Jeffries (chairman and CEO; and "god" to A&F fanatics), maintained in the October earnings call that the European operations were still healthy and that the strategy and financial objective was unchanged. Now that we're nearing the end of the fourth quarter, things have become off-putting and the game has changed...

The Barcelona flagship has been cancelled and the decision is a reflection of a reassessment on future European expansion. Particularly in Spain, the Madrid flagship will be the only A&F location in the foreseen future. This may also mean that the idea to open a Gilly Hicks in Spain may also be reconsidered. Back in February 2011, Abercrombie & Fitch signed a contract for 34 College Green in Dublin for the first A&F - a flagship - in Ireland. The store was originally scheduled to open by the end of 2011, but was postponed and its fate is publicly unknown as of now. Flagships which are definitely on track to open include Hamburg (26 April 2012), Munich, and Hong Kong (late-2012). Amsterdam and Stockholm were also said to open in 2012, but their opening is also uncertain (at least to the public). Openings for fiscal 2012 will be shared by February...

This is the first piece of bad news we've covered that's definitely neither 'hot', 'funny' or 'wow'...Although you could call it an 'interesting' turn of events, albeit sad. :(
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