Shirtless Employees, Sexualized Gift Cards No Longer Part Of Abercrombie & Fitch's Business Model

You'll have to get your soft-core porn with a side of retail elsewhere.

Time was, Abercrombie & Fitch made its money by displaying rugby shirts and jeans alongside scantily-clad 8-packs doused in entire bottles of cologne. If sales were slightly disappointing in any given quarter, execs simply dictated on high that rank and file employees remove an article of clothing of their choice, like some kind of game of corporate strip poker, and boom: 15% growth. Now? As in, starting today? Those days are over.

Teen retailer Abercrombie & Fitch is putting an end to the beefcake. In a set of personnel policies announced Friday, the company said it would stop hiring sales staff on “body type or physical attractiveness” and will relax its infamous “Look policy” so that employees can dress themselves. The official title for sales staff will now be Brand Representative, replacing the old title: Model. The company’s sex tinged marketing is being dialed back as well. “By the end of July, there will no longer be sexualized marketing used in marketing materials including, in-store photos, gift cards, and shopping bags,” Abercrombie said. And store openings and events will no longer be decorated with shirtless models...The company said Friday it will take time to see the impact of the new policies on sales of the new policies, which also include an “improved sensory experience.” Abecrombie said it plans to “adjust the scent, lighting, music and trees to ensure a more pleasurable shopping experience.”

Abercrombie & Fitch Dials Back The Sex [WSJ]
Bye-Bye, Beefcake: Abercrombie’s Hot Salesclerk Policy Is Over [Bloomberg]


Bob Diamond Lieutenant Jerry Del Missier Ended Up Faring A Bit Better In The Parting Gifts Department Than The Boss

The bad news is that former Barclays chief operating officer Jerry del Missier is still out of a job and it may be some time before he gets a new one, on account of "investigations conducted by American and British authorities [demonstrating] he was a central figure" in the scandal du jour and "asked other bank officials to lower the firm’s submissions to Libor." The good news is that Jer is still (probably) getting paid, unlike some people he knows. Barclays was mired in fresh controversy on Wednesday night after handing almost £9m to a top banker who left following the Libor scandal and after one of its highest profile non-executive directors suddenly quit, taking the toll at the top to four. Jerry del Missier, who resigned after telling subordinates to reduce the bank's Libor submission during the October 2008 banking crisis, was reported to have been handed £8.75m cash as part of his leaving package. Shadow Treasury minister Chris Leslie called on del Missier to follow Diamond and waive the bulk of his payoff. "Having resigned from Barclays over the Libor fixing scandal, people will find the scale of this award completely inappropriate. Bob Diamond rightly waived most of his pay off and Mr del Missier ought to do the same," Leslie said. £9m leaving deal for Barclays deputy Jerry del Missier [Guardian] Former Top Barclays Official in Line for $13.6 Million Payout [Dealbook]