Abercrombie and Fitch Company was founded in 1892 by David T. Abercrombie and Ezra H. Fitch as a sporting goods store and hit many highs and lows. In 1929, the company made sales of $6.3 million and reported with net profits of $548,000. (Berfield) In 1976, Abercrombie & Fitch filed for Chapter 11, and closed down the company’s flagship store on Madison Avenue in New York in 1977. Then, in 1978, Oshman's Sporting Goods bought Abercrombie and Fitch Company’s name and mailing list and relaunched the company. Finally, in 1988, Oshman's sold Abercrombie & Fitch Company’s name and operations to The Limited, a large- scale clothing-chain operator. (Berfield) The company incorporated in June 26, 1996 and is a retailer that operates stores and direct-to-consumer operations. Abercrombie and Fitch Co. …show more content…
Stores, International Stores and Direct-to-Consumer. In 1988, Limited Brands acquired Abercrombie and Fitch as it’s master company. Coming into later years, the company suffered financially for its refusal to lower prices or offer discounts, up to current day sales. On September 26, 1996, The Limited, Inc. took Abercrombie & Fitch public on the New York Stock Exchange with the ticker symbol “ANF”; the per share offering was $16. (Lutz) In October of 2007, Abercrombie & Fitch's stock price dropped from an all-time high of $84.23 to a low of $14.64 in November 2008. (Lutz) In efforts to make a distinct and better known brand name and image, the company expanded internationally in 2005. In January 2009, the company reported its worst drop in sales and shares. (Forbes Contributor) In March of 2010, the A&F made financial progress that analysis’s cited the company’s successful international expansion and better