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Thursday, 18 August 2011 - Abercrombie & Fitch wants clothes off Jersey Shore |
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Credit: Reuters/Lucy Nicholson By Roy Strom NEW YORK | Wed Aug 17, 2011 7:24pm EDT NEW YORK (Reuters) - Teen clothing retailer Abercrombie & Fitch Co has offered money to get away from what it sees as an undesirable Situation. The preppy retailer has offered to pay cast members from MTV's popular show "Jersey Shore" to stop wearing its clothes, it said in a news release late on Tuesday. The company is "deeply concerned" that Michael "The Situation" Sorrentino "could cause significant damage" to the brand's "aspirational nature." MTV, a unit of Viacom Inc, released a statement in response that called Abercrombie's offer "a clever PR stunt." "We'd love to work with them on other ways they can leverage Jersey Shore to reach the largest youth audience on television," the statement said. "Jersey Shore" features a cast of twenty-something Italian Americans partying, tanning and complaining about their jobs at a beach-front T-shirt stand. The offer could be considered an abrupt about-face for a company that previously sold T-shirts emblazoned with the wording "The Fitchuation," and "G.T.L." -- the show's common reference to a pre-party routine of "gym, tan lunch." Abercrombie Chief Executive Officer Mike Jeffries was eager to broach the topic on a conference call with analysts. "Is no one going to ask about The Situation?" he asked. When an analyst did ask, Jeffries said: "Last Friday morning I was with a group of people here and someone came up and said, 'Mike, I have terrible, terrible news for you. Last night on 'Jersey Shore' The Situation had A&F product on." Jeffries said he and the group agreed it was "terrible news." That is when they came up with the idea to pay the cast not to wear their product, Jeffries said. "We're having a lot of fun with it," he added. The Situation, for his part, tweeted: "Looks like Abercrombie got themself into a Situation!" linking to an article that commented on the retailer's shares falling 8.7 percent on Wednesday. The share price fall was more widely attributed by analysts to CEO Mike Jeffries' comments in a conference call that Abercrombie was entering a period of greater uncertainty. While seen as more of a publicity stunt than anything else, Abercrombie's offer was mentioned in notes on Wednesday by Wall Street analysts. "No love for 'Jersey Shore!'" Nomura Securities Analyst Peter Lejuez wrote in a report titled, "Jersey abs not welcome here." Lejuez said shoppers in Europe, a region in which he says Abercrombie is eager to expand, may not like the look of the rambunctious reality show's cast. "They have a different look than The Situation," Lejuez said in an interview. Abercrombie also reported earnings on Wednesday that beat analysts' expectations. The results prompted Wall Street Strategies analyst Brian Sozzi to write: "Management may be correct in asking (and offering to pay) the cast of 'Jersey Shore' to stop donning its logo-wear. It doesn't need the infusion of MTV and side-job dollars from the 'Jersey Shore' crew, if 2Q11 was any indication." Sozzi said he found the offer to be "counter to everything the company stands for." "They have half-naked teenagers standing in front of their store," he said, adding that the attention would help sales for the back-to-school season. Still, those sales might need help. A cautious outlook from executives sent Abercrombie shares down 8.7 percent at the market close to $64.87. (Editing by Gerald E. McCormick; editing by Andre Grenon) Entertainment Fashion Television Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Entertainment News From the Wrap Mötley Crüe Booker Sued in Buenos Aires Concert Dispute 7:33pm EDT Promoter claims Crüe booker scrüed him out of a performance by Vince Neil and the gang; he's seeking $2 million Accused Inside Trader Hits Back at SEC Over Marvel Stock Purchases 7:26pm EDT Toby Scammell says he didn't get tips from his Disney-employee girlfriend about the media giant's $4 billion deal for the comic book company two years ago Russell Armstrong's Lawyer Says He Spent Savings to Make Wife Famous on 'Housewives' 7:35pm EDT "The expenses were getting higher and higher and he was unable to cover it," lawyer says Howard Schultz: Obama, Congress Should Not Vacation During a Crisis 7:34pm EDT In an exclusive interview, the Starbucks CEO says he has been “stunned” by the response to his call for a boycott on political donations   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) ZukeyBadtouch wrote: Even their shadows are ashamed to be seen in public with them. Aug 17, 2011 2:04pm EDT  --  Report as abuse See All Comments » Add Your Comment Social Stream (What's this?)   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Mobile Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Contact Us Advertise With Us Connect with Reuters Twitter   Facebook   LinkedIn   RSS Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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