Abercrombie Lands on Transparency Black List
If the business model for clothing retailer Abercrombie & Fitch Co. aims to sell the image that bad behavior makes life more fun then maybe the company will see an uptick in customers after Corporate Responsibility Magazine listed the business on its annual black list.
Investors, however, might take a different view of the magazine linking Abercrombie with 29 other businesses labeled as "examples of companies for whom zero points of relevant data can be found to compare its transparency to that of its colleagues on the Russell 1000 list of large-cap firms."
Joining the ranks of such other black list companies as Weight Watchers International Inc. and Fidelity National Financial Inc., Abercrombie discloses "virtually zero" information on data points related to "environment, climate change, human rights, employee relations, finance, governance and philanthropy," the magazine says.
The magazine also points out that the 30 black listed companies "significantly under-performed both the S&P 500 and the '100 Best Corporate Citizens List' companies in three-year total return."
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