Abercrombie & Fitch is in trouble.
The teen retailer is working with an investment bank to find a buyer, according to a Reuters report published Wednesday.
The company's operating income plummeted to $15.2 million in 2016, down from $72.8 million in 2015, and it is closing dozens of stores amid an effort to revamp its brand.
Abercrombie has struggled to keep up with teen trends in recent years. The company has tried to modernize with changes such as redesigning stores, ditching its logo-heavy styles, and dropping its super-sexualized advertising.
A scroll through Abercrombie's website, however, shows that the retailer still has some major problems.
Discounts are normal in retail. But no brand wants almost every item to be 40% to 60% off. This isn't even the site's sale section.
Abercrombie was promoting a $29 dress sale. But it's not just dresses you'll see steep discounts on.
This skirt is being sold for $10, an 80% discount off its original price.
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