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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.

Abercrombie & Fitch is offering money to Mike “The Situation” Sorrentino – not to model its clothes but rather to stop wearing them.

“We are deeply concerned that Mr. Sorrentino‘s association with our brand could cause significant damage to our image. We understand that the show is for entertainment purposes, but believe this association is contrary to the aspirational nature of our brand, and may be distressing to many of our fans,” the clothing brand said in a statement.

The 29-year-old Jersey Shore star has been known to wear Abercrombie & Fitch on the MTV show, most recently a pair of neon green sweatpants.

“We have therefore offered a substantial payment to Michael ‘The Situation’ Sorrentino and the producers of MTV’s Jersey Shore to have the character wear an alternate brand. We have also extended this offer to other members of the cast, and are urgently waiting a response,” the press release added.

WHAT DO YOU THINK about Abercrombie & Fitch‘s offer to The Situation?

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Snooki, Pauly D, Vinny, Ronnie, and Deena hang out on the balcony of their shore house on Sunday (June 26) in Seaside Heights, New Jersey.

The cast of the mega-hit MTV reality series Jersey Shore returned to where the show began to start filming the fifth season of the show.

Also pictured inside: The Situation, J-Woww, and Sammi.

The cast just returned from Florence, Italy, where they filmed the fourth season that will air later this summer.

Just as they had done for the previous seasons, the cast locked down another pay raise, according to TMZ.

10+ pictures inside of the Jersey Shore cast returning to Seaside Heights… More Here! »

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Snooki and The Situation carry their luggage into their new house after arriving in Florence, Italy to begin shooting the fourth season of Jersey Shore on Friday (May 13).

The reality stars were joined by their castmates Pauly D, J-Woww, Vinny, Ronnie, Sammi, and Deena.

Snooki made sure to bring a little piece of home with her to Italy. She brought along a couple of stuffed animals – her beloved Crocodilly and a cheetah!

FYI: Pauly D is wearing Cult of Individuality jeans. J-Woww is also wearing Cult of Individuality.

15+ pictures inside of the Jersey Shore cast arriving in Italy… More Here! »

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David Cook & PS22 Offer