Abercrombie & Fitch hopes sneakers are the answer to sales slump (opens original article in a new tab)

Abercrombie & Fitch is introducing third-party brands and new product lines to address a sales decline and compete with rivals like Aritzia, as economic pressures and shifting consumer behavior impact the fashion industry.

• Abercrombie & Fitch adds third-party brands like Puma and Frye to its stores to boost sales
• The company's sales dropped 7% in the past fiscal year amid competition from Aritzia
• Abercrombie introduces new store formats and accessories to meet changing consumer demands
• Consumer spending is shifting due to economic pressures and growth in the secondhand market
• The global fashion industry is expected to see low growth according to McKinsey