Abercrombie & Fitch posts ugly sales; stock drops 8% [View all]

[KurtNYC]

The pricey teen retailer — whose CEO Mike Jeffries lately has come under fire for saying he doesn’t want fat people in his stores — posted an embarrassing quarterly sales drop that was made worse by kinks in its supply chain.

Abercrombie’s sales at stores open at least a year, or same-store sales, a closely watched measure of performance, plunged 15 percent in the first quarter — a shockingly steep drop that lead to a loss of more than $7 million and sent the company’s stock tumbling.
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Particularly disgraceful, critics said, was the fact that the delays — which were responsible for two-thirds of the nasty sales drop — were caused by botched efforts to speed up the clothing deliveries.

“You’ve got to be a really poorly run organization to lose that many sales because you couldn’t get inventory into the channels,” one disgusted Abercrombie shareholder told The Post yesterday.

http://www.nypost.com/p/news/business/buyers_off_vTYdOd9INyJMOQhIEaZZiI

So THAT's what he meant by "cool kids"? The cold ones that have no shirts because he couldn't ship them to his own stores?