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Abercrombie & Fitch

Stock PLUMMETS

After Dissing 'Jersey Shore'

8/17/2011 11:24 AM PDT BY TMZ STAFF

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The Situation could have more market power than anyone imagined -- because a day after Abercrombie & Fitch offered him and the other "Jersey Shore" cast members cash NOT to wear its clothes ... the company's stock plummeted 9%.

Abercrombie's stock hit the new low today -- the first trading session since the company offered Sitch and the cast substantial $$$ to stop wearing A&F-branded products.

Abercrombie fired off a press release yesterday, offering the cast "a substantial payment" in return for not wearing its threads, claiming The Situation goes against the "aspirational nature of its brand."

A source directly connected with The Situation tells TMZ ... Abercrombie never personally contacted them, or in any way made a financial offer to stay away from A&F clothing.

Translation -- this stunt backfired big time.


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94 COMMENTS

No Avatar
31.

Bubbles The Chimp    

The cast of Jersey Shore must be the only people in the world wearing tacky A&C clothing.

1109 days ago
32.

sparced    

translation: TMZ lacks any level of credibility as a news site

A&F reported today that next few quarters might be very difficult for the company... has nothing to do with the Jersey Shore garbage

1109 days ago
33.

Superman    

1. I already hated A&F for their hiring practices.
2. I hate them even more because they offered that POS cash to not do something.
And 3. TMZ, stop making crap up! It was some unsettling words from Abercrombie Chairman and CEO Mike Jefferies that had investors pulling the sell trigger. He said, "Costing pressures will be greater in the second half of the year, and macroeconomic uncertainty has increased."

1109 days ago
34.

anony    

Like I said before: Fila ended up going ghetto.
A&C doesn't want to go guido.

1109 days ago
35.

Fred Farkel    

I don't shop there - but if they have the kahunas to get rid of that worthless loser... I would start shopping there tomorrow.

SOMEONE HAS TO SAY "NO THANK YOU" TO THAT COLLECTION OF HUMAN EXCREMENT.

1109 days ago
36.

jt8018    

How stupid could you be TMZ. Stock fell because of earnings report....not Jersey Shore. I'm sure the stock holders of A&F could care less about all the white trash on Jersey Shore. Good try though!!!

1109 days ago
37.

Dustin    

No, it's because Abercrombie & Fitch announced their earnings this afternoon, nice try TMZ.

1109 days ago
38.

Britt    

TMZ suprises me with their ignorance in this post. The stocks went down because the quarterly earnings were announced this morning. The numbers caused it to go down not that meathead "The Situation". Maybe we need some journalists that know anything about the market working for you to stop you from making stories out of nothing.

1109 days ago
39.

Broncho4    

Jobless number are up. Retail spending is down. World credit markets are in the can. This is clearly a result of the press release about "The Jersey Shore".

I get it... No news so let's make something up!

1109 days ago
40.

TVManHouston    

http://tinyurl.com/3od6cq9...Not the first time. Mike briefly worked for our company and we had to request he didn't market us after leaving to pursue Jersey Shore in order to uphold our brand image. Thankfully it hasn't damaged our repertoire.

1109 days ago
41.

Laughing at celebrities is fun.    

Still a good move, the stock will go back up again tomorrow.

1109 days ago
42.

lisa    

Why on earth would they publicly offer these dimwits money to not wear their clothes? They should have just issued a statement saying they were concerned about the impact it would have on their brand. That would have been enough to humiliate the cast.

1109 days ago
43.

Kartrashian Klown    

If it is true then it is very ****ty of them. They might as well have their models outside of the store giving out 100 dollar bills to people who they think might not fit their "profile of perfection".

1109 days ago
44.

BouncersSuck    

An interesting move by ANF in today's world of volume sales anywhere, and to anyone businesses can get them. They are risking alienating the whole market created by that 'show'.

So, as the corporate media dangles ANF out to the public, namely the Shore-mongers like a piece of meat; mis-characterizing this BUSINESS offer as an 'insult' rather than what it truly is, to the educated amongst us: brand control via placement advertising/press release communication to the public.

Now the question becomes: will ANF have the balls to stand behind this move over time, or will they fold their hand to the backlash of the Shore-mongers, many of whom no doubt will be insulted that the corporate media said ANF insulted the reality show 'actors', whom they relate to en mass?

Big Poppa

1109 days ago
45.

Warren    

S&P lowers Abercrombie & Fitch price target by $5 to $80

Recently there was a report that the younger teenagers don't care for A&F like they use to.

1109 days ago
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