Make us your home page
Instagram

Retailers Abercrombie, Banana Republic, Hollister jump on price-cut bandwagon

In the apparel industry's attempts to wean shoppers off a "wait-for-a-sale" mentality, some more holdouts tossed in their price tags.

The latest to say they will drop entry-level prices 20 percent or more are Ann Taylor, Gap, Banana Republic, Abercrombie & Fitch, abercrombie and Hollister. Saks Fifth Avenue is bringing back store brands after a decade in mothballs. Gap hopes to counter $150-to-$200 premium jeans shops with its $54-to-$59 version of premium denim.

"The driving force behind our (sticking with higher) pricing has been fashion, quality and the aspirational" nature of customers, said Michael Jeffries , chief executive of Abercrombie & Fitch, promising sharper full-prices on basic items after quarterly sales dropped 30 percent. "But price that drives traffic has become more of an objective for us more than ever."

Retailers Abercrombie, Banana Republic, Hollister jump on price-cut bandwagon 08/25/09 [Last modified: Tuesday, August 25, 2009 11:50am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Apple Scales Back Its Ambitions for a Self-Driving Car

    Autos

    SAN FRANCISCO — As new employees were brought into Apple's secret effort to create a self-driving car a few years ago, managers told them that they were working on the company's next big thing: A product that would take on Detroit and disrupt the automobile industry.

     In this Monday, April 10, 2017 file photo, Luminar CEO Austin Russell monitors a 3D lidar map on a demonstration drive in San Francisco. Russell, now 22, was barely old enough to drive when he set out to create a safer navigation system for robot-controlled cars. His ambitions are about to be tested five years after he co-founded Luminar Technologies, a Silicon Valley startup trying to steer the rapidly expanding self-driving car industry in a new direction. Apple says it will scale back its amitions to build a self-driving car.  [AP Photo/Ben Margot]
  2. Groundbreaking today for complex on old Tampa Tribune site

    Real Estate

    TAMPA — A groundbreaking is slated for 10 a.m. today for a 400-unit apartment complex planned on the site of the former Tampa Tribune building in downtown Tampa.

    Renderings for a high-end apartment complex that will be built on the Tampa Tribune site in downtown Tampa. 
[Courtesy of Related Group]
  3. Walmart announces delivery partnership with Google

    Retail

    Walmart announced a new delivery partnership with Google to make online shopping easier for customers.

    People walk in and out of a Walmart store in Dallas. Walmart announced a new delivery partnership with Google.  [Associated Press]
  4. Insurance regulators fret over a spike in auto glass claims

    Banking

    TALLAHASSEE — Three months ago, state regulators weren't tracking a surge in broken auto glass claims, particularly in Tampa Bay.

    The issue has their attention now.

    The Office of Insurance Regulation is taking on assignment of benefits abuse in the 2018 legislative session. Pictured is Florida Insurance Commissioner David Altmaier. | [Times file photo]
  5. Proino Breakfast Club owner charged with not paying state taxes

    Crime

    LARGO — Just before noon on a recent Sunday at Proino Breakfast Club, the dining room was bustling as owner George Soulellis chatted with a customer.

    Proino Breakfast Club at 201 West Bay Drive in Largo. The owner was arrested last month on a theft of state funds charge, according to court records. JIM DAMASKE   |   Times