Abercrombie and Fitch's Stock Plumetted After Banning The Situation
Either a coincidence or karma, Abercrombie & Fitch market stock has gone down by 9 per cent just a day after the company announced that they would pay for The Situation not to wear their apparel. The stock hit a new low on Wednesday, August 17 in the first trading session after the no Situation policy.
A & F issued a press release, informing that they offer a "substantial payment" in return of the "Jersey Shore" star not to put on their product because he goes against "aspirational nature of its brand." Calling it a "win-win situation", the company suggests Sitch uses the money to wear other brands.
Situation, real name Mike Sorrentino, has not made any comment nor his representative. But according to TMZ's source, despite the announcement, A & F has not in any way made a financial offer to stay away from the brand.
- Blake Lively Celebrates Baby Shower With Taylor Swift
- Gabby Douglas Apologizes After Missing VMAs due to Health Issues
- First Look at Miley Cyrus as Hippie in Woody Allen's 'Crisis in Six Scenes'
- Drake and Rihanna Kiss on Instagram, Enjoy Date Night After VMAs
- Chris Brown Reacts to Accusations That He Pulled Gun on Woman
- 'Dancing with the Stars' Announces Full Cast and Pairings for Season 23
- 'Outlander' Casts David Berry in Pivotal Role of Lord John Grey
- 'Zombieland 2' Still Happening With Original's Scribes on Board