Ambercrombie wants to hang with the older crowd
That’s the target age Abercrombie & Fitch is seeking now — along with college students — in a strategy to move away from teens and nab the more brand-loyal elders. The company is reinventing itself, Andy Uhler writes, hiring new designers and executives. “Teenagers are just not very loyal to brands,” fashion writer Hayley Phelan says. The retailer reported losses for the second quarter Wednesday, though not as much as some analysts feared, given its stock hit a more than six-year low last week.
That’s the amount of federal student loans at stake in the liquidation of Corinthian College, once one of the largest for-profit higher education companies in the U.S. The company is the target of objections again, this time over its bankruptcy plan. Some agencies say the plan will shield Corinthian from lawsuits. Last year, the Consumer Financial Protection Bureau sued Corinthian, saying it charged exorbitant tuition and saddled students with high-interest loans.
That’s how long you’ll have to get a McWhopper and support world peace at the same time, if Burger King’s “sincere” proposal goes through. The New York Times reports that Burger King, “a perennial also-ran in the burger races” asked rival McDonald’s to join hands and beef patties on Sept. 21 in honor of the International Day of Peace. The King’s proposal was delivered via full-page ads in the Times and the Chicago Tribune, and promised that the fruits, uh, proceeds, of the union would go to Peace One Day, sort of the in-laws. McDonald’s CEO Steve Easterbrook was coy in his Facebook reply, saying he’d “be in touch.”
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