Word: fitch
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...federal housing agency Freddie Mac. The number of people 90 or more days behind on their mortgages continues to rise - in July, 2.95% of Freddie Mac loans were late, up from 2.78% the month before, and 1.01% a year ago. Furthermore, a new study from the credit-rating agency Fitch found that among people falling behind on payments, fewer and fewer are able to catch up. Looking at a set of mortgages that had been bundled into securities, Fitch calculated that as of July, just 6.6% of delinquent borrowers with prime loans were catching back up on payments. Between...
...this recession, there are struggling apparel retailers all across the country. Then there's Abercrombie & Fitch. The upscale teen retailer has suffered 10 straight months of double-digit same-store-sales declines. In the second quarter of 2009 alone, sales were down an eye-popping 30% across the company's three name outlets: the flagship Abercrombie brand, which has 567 stores; Hollister, a 520-store teen chain; and Ruehl, a 29-store chain for young adults that Abercrombie shut down in June. Abercrombie & Fitch lost $26.7 million, which includes $24.4 million in charges associated with the closing of Ruehl...
...that the company missed some spring fashion trends. He said he plans to cut prices more aggressively. (The company did not respond to an interview request.) He might also want to change the Abercrombie vibe, which seems pretty tone-deaf to the times. At the New York City Abercrombie & Fitch store, whose neighbors include Prada and Gucci, a shirtless male model greets shoppers at the front and happily snaps pictures with the gawkers. Sales associates dance to hip-hop music in the aisles. There's not one "For Sale" sign in the whole four-story place. A pair...
...benefits of using a REIT structure are threefold: private-equity firms can access equity capital quickly, use shares as currency in making future acquisitions and distribute a dividend to attract investors, says Steven Marks, managing director at Fitch Ratings...
...these offerings will get done," predicts Marks at Fitch Ratings. "A lot of them have similar business plans ... It comes down to the strength of the management team...