Tech
Can Abercrombie And Fitch Make A Comeback?
Abercrombie & Fitch was one of the most popular stores for teens in the early 2000s. But after a couple missteps and controversial remarks from the CEO at the time, the brand image plummeted. Now Abercrombie is trying to catch up with its competitors.
Abercrombie & Fitch and Hollister were the go-to teen retailer early 2000s, where shoppers would buy the trendiest flannels, tees and jeans.
But throughout the years, controversies surrounding the company have piled up. In 2013, comments resurfaced from a 2006 Salon article, in which former CEO Mike Jeffries’ said the retailer would only sell clothes to attractive people. Abercrombie & Fitch fell to the fourth most popular brand among upper income teens in 2006, 6th in 2009, and fell off the charts after 2014, according to Piper Jaffray.
Now, the company is staging a turnaround, by transforming its image and ethos. Instead of excluding those who who didn’t fit Abercrombie’s style, the company has adopted a more inclusive attitude, as consumers continue to value socially conscious brands.
“We are a very different company than we used to be,” Fran Horowitz, who was named CEO in 2017, said in an interview.. “We are a much more inclusive company, we are closer to the customer, we’re responding to the customer wants and not what we want them to want.”
In April 2018, Horowitz, laid out a four-prong vision for the company. Her plan includes redesigned stores that are open, a more responsive supply chain, a seamless shopping experience online and off, and boosted loyalty programs. If you haven’t been paying attention, the company might be unrecognizable.
There are signs that consumers are responding well to the changes. In Piper Jaffray surveys, Hollister’s popularity among teens has been steadily rising, and was ranked fourth among all clothing brands most recently.
But in the first quarter of 2019, Hollister reported same-store sales growth of 2%. That missed analyst expectations of a 3.3% growth, sparking a selloff of A&F shares and led investors to worry that momentum and the company’s crown jewel was slowing.
The holiday season may prove to be a pivotal point. If sales at Hollister continue to slow, investors might double down on the belief that the brand is losing steam. If sales accelerate, however, that may indicate Horowitz’s initiatives are winning over shoppers â who’ve decided to give the retailer another chance.
Abercrombie’s stock has grown 36% since Horowitz took over in February 2017, but has also fallen around 22% since January. The company has a market cap of around $971.5 million.
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Can Abercrombie And Fitch Make A Comeback?
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For decades, companies have turned to futures markets to manage uncertainty. Airlines hedge fuel costs. Farmers hedge crops. Manufacturers hedge metals. Now a startup wants to bring that same financial machinery to artificial intelligence. Silicon Data and CME Group are working on futures contracts tied to GPU rental prices, a market that could help firms hedge rising AI infrastructure, cloud computing and data center costs. AI companies spend heavily to rent high-end GPU power for training and running artificial intelligence models, but future compute prices can be hard to predict. CNBC’s Yun Li reports.
Chapters:
0:00-54:00 Introduction
00:55-03:16 Chapter 1: Computing Costs
03:17-05:27 Chapter 2: Demand
05:28-07:21 Chapter 3: Setting a Benchmark
Reporter: Yun Li
Produced and Shot by: Charlotte Morabito
Camera by: Natalie Rice
Edited by: Andrea Miller
Animation: Christina Locopo, Alisa Stern
Additional Editing: Valentina Duarte, Macklin Fishman
Additional Production: Christian Nunley
Senior Managing Producer: Shawn Baldwin
Additional Footage: Getty Images
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Can AI Compute Become The Next Big Futures Market?
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The auto industry is staring at a ‘perfect storm’ of slowing population growth, longer lasting cars, high prices, and new technology. These factors stand to put significant downward pressure on new car sales by 2040, according to analysts at Bain & Co.. The landscape could be far more competitive and prone to consolidation.
Chapters:
00:00 Introduction
00:46 Chapter 1:Â The reasons why
03:22 Chapter 2:Â Uncertainty
04:56 Chapter 3: Competitive U.S.
Reporter: Robert Ferris
Produced, shot, and edited by: Darren Geeter
Additional editing by: Carlos Waters
Animations: Jason Reginato, Emily Park
Senior Managing Producer: Tala Hadavi
Additional footage: Getty Images
Additional sources: Bain & Company, AutoForecast Solutions
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Why Analysts Say The Auto Industry Is Heading For Demographic Cliff
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Zhipu’s GLM 5.2 dropped last week and Silicon Valley noticed immediately. The Chinese open-source model is closing in on the American frontier on the benchmarks that matter most for agentic work. And it’s free to download, fine-tune, and run on your own servers. Developer adoption on OpenRouter is moving faster than DeepSeek did back in April.
This week we ask what it actually means for enterprises, for vertical AI companies, and for the infrastructure trade underneath all of it.
Box CEO Aaron Levie on how enterprises are thinking about model selection when capable open-source is in the mix. Harvey co-founder and president Gabe Pereyra on building specialized AI on top of open-source infrastructure. And Bernstein’s Stacey Rasgon on OpenAI’s new Jalapeño chip and what the race to cut inference costs means for Nvidia and Broadcom.
Chapters:
00:00 Introduction
1:02 Zhipuâs latest model, GLM 5.2
5:12 Gabe Pereyra, President and Co-Founder, Harvey
8:41 Aaron Levie, CEO, Box
36:31 Stacy Rasgon, Senior Analyst, Bernstein Research
Anchor and Columnist: Deirdre Bosa
Produced by: Jasmine Wu
Edited by: Andrew Evers
Senior Director of Video: Jeniece Pettitt
Additional Footage: Getty Images
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Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBCâs new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Sign up now: https://cnb.cx/4sGlSkh
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Z.AI And The Chinese Open Source Moment
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CNBC’s Seema Mody got an exclusive look inside GE Vernova’s largest gas turbine plant in Greenville, South Carolina offer fresh evidence that the AI boom is only getting started. Inside the factory, engineers are working side-by-side factory workers to speed up production of this complex machine. Two hundred workers were hired last year and three hundred more are expected to start working at this factory by end of year. Prices of gas turbines are surging more than 300% since 2023 as companies like XAI, Microsoft and OpenAI deploy turbines at their data centers powering AI.
Reporter: Seema Mody
Produced by: Jeffrey Kopp, Noah Broder
Edited by: Darren Geeter
Camera: Shawn Baldwin, David Soltis, Macklin Fishman
Senior Director of Video: Jeniece Pettitt
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Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBCâs new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Sign up now: https://cnb.cx/4sGlSkh
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How The AI Data Center Buildout Is Creating Boom For The Gas Turbine Industry
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Sports TV ratings and live rights fees are soaring, but professional leagues and broadcasters are facing a new battleground for young fans. Social platforms like TikTok and YouTube are claiming an increasing share of viewing hours among Generations Z and Alpha. Sports clips, highlights and creator content can introduce younger fans to professional sport, but how do the major players cash in?
Reporter: Lillian Rizzo
Produced & Edited by: Tasia Jensen
Camera: Natalie Rice
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images
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How TikTok And YouTube Are Reinventing Sports Viewership
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