Abercrombie And Fitch Essay

INTRODUCTION

Abercrombie & Fitch Co. was introduced as a sports gear store in the 19th century, and has since transformed into one of the most famous retail brands globally. When CEO Mike Jeffries was introduced into the company he revamped the company into today’s top fashion. Abercrombie and Fitch Co. have enjoyed substantial success for many years in the retail business, and have continued its brand recognition all over the world. Your employees are one of the staples of your company. Your employees are chosen by diversity and looks, not their resume. You have created unity from this and are diverse business. However, Abercrombie & Fitch Co., like many other companies have faced substantial shrinkage in the past damaged your profits tremendously.

The rate of shrinkage at Abercrombie & Fitch Co. has stayed constant over the years and without significant action, you will continue to lose revenue. According to Bloomberg Business (2015), your sales revenues are

Without the corporations’ leaders believing that shrinkage was a major issue, CVS would never have seen results. By ensuring that the company takes loss prevention seriously, it began with orders from the executives, down to the actual loss prevention team. Without this, their team would never have had the resources to achieve their goal of decreasing shrinkage.

The next strategic movement that CVS made was ensuring that there was organizational ownership of the problem (Overstreet, 2013). It is not the sole responsibility of the security and loss prevention teams to protect the company against shrinkage. It is an organizational responsibility to try and stop the act of theft and employee theft from occurring. The organization must believe in taking ownership of shrinkage and allow it to become part of the culture in order for results to