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Unless you've been living on a deserted island for the last five years or so, you have probably heard of the company that goes by the name of Abercrombie & Fitch. This company is the first company in the Young30 stock index that we will profile.
Around 100 years ago, Abercrombie & Fitch started selling outdoor equipment to Americans. Over time, they changed to selling casual clothes to millions of teenagers and young adults.
Their line of clothing doesn't come cheap. Shopping at their stores often leaves you with a triple-digit receipt when you leave. But despite the prices, shoppers continue to buy tons of their clothes each year. We mean it when we say "tons" because each store sells an average of $5 million worth of clothes each year!
Abercrombie & Fitch's extreme popularity began roughly 6-7 years ago when teenagers across the country began flocking to over 200 Abercrombie & Fitch throughout the US.
Abercrombie is enjoying strong growth due to their acquisition of Hollister Co, another similar clothing company that doubles the company's presence in shopping malls throughout the country.
Abercrombie's popularity grows each day by their excellent ad campaign. Rather than spending millions of dollars each year to run television ads, the company lets the shoppers advertise for them. Abercrombie clothes proudly display the company's name which allows millions of people to see this small ad each and every day.
Abercrombie & Fitch is what is known as a retail company. This means that they sell goods (in this case, clothes) to the public. The company is also looking forward to generating more money by opening up an online store which would allow shoppers to buy clothes from their computer.
Abercrombie & Fitch is traded on the New York Stock Exchange under the ticker symbol ANF. |
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