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Abercrombie & Fitch Stock Falls After Offer to The Situation

Abercrombie & Fitch Stock Falls After Offer to The Situation

Abercrombie & Fitch has experienced a sharp decrease in its stock after offering to pay The Situation and his Jersey Shore co-stars to stop wearing its clothes.

The day after the clothing company issued a press release with its offer, its stock plummeted 9%, according to TMZ.

While the A&F shareholders are probably stressing out, the company’s CEO Michael Jeffries said he is having fun with the “situation.”

“Last Friday morning I was with a group of people here and someone came up to me and said ‘Mike, I have terrible, terrible news for you. Last night on Jersey Shore the Situation had A&F product on,’ So we all said, ‘Ahhh, that’s terrible.’ What are we going to do about it?” Jeffries said in a conference call on Wednesday (August 17).

“That’s how it happened. That’s where we are and we’re having a lot of fun with it,” he added.

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