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The Situation Gloats Over Abercrombie’s 10 Percent Stock Price Dip

After the clothing chain issued a cute press release offering to pay Mike "The Situation" Sorrentino not to wear their clothes, the Jersey Shore actor tweeted a link to an article on CNN about how Abercrombie's stock price dipped 8 percent yesterday, after falling 10 percent at one point in the day. CNN explains the stock's activity had nothing to do with The Situation, but guarded comments by the store's management following an announcement of gains — a 23 percent sales increase and 64 percent increase in net profits. The guarded tone "creates an air of uncertainty," said John D. Morris, a senior retail analyst for BMO Capital Markets. Morris, who owns no Abercrombie stock, applauded the chain's reaction to the Jersey Shore exposure.

"With respect to The Situation, Abercrombie & Fitch saw an opportunity to get some advantageous publicity during the all-important back-to-school season," said Morris, who does not own stock in the company. "It's definitely a good water-cooler conversation."

While The Situation's rep did not comment, and presumably has not accepted the store's payoff yet, at least, MTV seems interested.

[A]n MTV spokesperson told CNN: "It's a clever PR stunt and we'd love to work with them on other ways they can leverage 'Jersey Shore' to reach the largest youth audience on television."

So, is Victoria's Secret Pink just simpering quietly in a closet somewhere while all this goes down? Unfortunately for Sammi, who probably needs the money much more than The Situation, they can't exactly go pulling the same "we'll pay you not to wear our logo on your ass" thing with her.

Abercrombie drops 9% after 'Jersey Shore' diss [CNN Money]

Photo: Ludwig/Splash News

Copyright © 2013, New York Media LLC. All Rights Reserved. The Cut® are registered trademarks of New York Media LLC.

Copyright © 2013, New York Media LLC.
All Rights Reserved.

Copyright © 2013, New York Media LLC. All Rights Reserved.


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