Abercrombie: precautionary borrowing, stops share buybacks
(CercleFinance.com) - In an update on the Covid-19 outbreak, Abercombie and Fitch has announced that as a precautionary measure, it has begun a process to borrow 210 million dollars under its senior secured asset-based revolving credit facility to improve its cash position.
The youth clothing chain adds that it will continue to temporarily keep its stores outside the Asia Pacific region closed until further notice, and will not resume share buybacks for the foreseeable future.
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The youth clothing chain adds that it will continue to temporarily keep its stores outside the Asia Pacific region closed until further notice, and will not resume share buybacks for the foreseeable future.
Copyright (c) 2020 CercleFinance.com. All rights reserved.