Wednesday, August 17, 2011

{alltv} Abercrombie stock falls after 'Situation' news

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Abercrombie & Fitch may want to re-think their stance on The Situation.

The hip clothing company said in a news release (publicity stunt?) Tuesday that it's concerned that having Jersey Shore star Mike "The Situation" Sorrentino seen in its clothing could cause "significant damage" to the company's image.

Abercrombie says The Situation connection goes against the "aspirational nature" of its brand and may be "distressing" to customers. The Ohio-based retailer says it has offered a "substantial payment" to Sorrentino and producers of the MTV show so he'll wear something else, reported AP.

Sorrentino has yet to comment on the diss, but the court of public opinion seems to have weighed in. According to CNN, the stock price for Abercrombie & Fitch (ANF) had fallen nearly 10% at one point today. Granted, the dip could be a reaction to Abercrombie's earnings report, also out today.

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