Abercrombie & Fitch, which got a lot of attention for young flesh more than actual apparel, has lost a third of its market value in the past year and has falling store sales in Europe and the United States. The company says it's the economy, but analysts disagree, arguing that the company hasn't kept up. Seems young, shirtless models don't sell denim and T-shirts like they used to. Said Allen Adamson, a managing director at brand consultancy Landor Associates, "The trick for fashion brands is how to keep the core edgy and hot." Read the whole story...

David Champion, long-time auto analyst at Consumer Reports, has jumped the fence. Nissan has hired him, and created a position for him as executive adviser for competitive assessment and quality. "David Champion's unique industry background will help ensure that the customer's voice is evident in every product we engineer," said Carla Bailo, Nissan's senior vice president for research and development, in a statement. Read the whole story...

A new report from the Pew Research Center says the U.S. middle class has shrunk drastically over the last 10 years as Americans' net worth has plunged, wages declined and standards of living slipped away. The blame goes to U.S. lawmakers, banks and big business. Since 2001, median household income has fallen from $72,956 to $69,487 in 2010, the report said. Read the whole story...

Fairway Market, a New York-area, high-end supermarket chain, has filed for an initial public offering. The retailer's owner, Sterling Investment Partners, originally invested $150 million in the chain in 2007, and has pumped cash to fund an expansion to 10 locations, each of which is estimated to generate at least $50 million per year in sales. Read the whole story...

The West Hollywood City Council has passed an ordinance banning single-use, carryout plastic bags at the point of sale from all pharmacy grocery and retail stores here. The law is based on the ban currently in effect in Los Angeles County. Santa Monica, Malibu, Calabasas and Long Beach have similar laws. The new one goes into effect for retail establishments of at least 10,000 square feet and retail establishments smaller than 10,000 square feet. Read the whole story...

Hill Holliday's SVP of digital strategy, Mike Proulx, says shortcut tactics won't make long-term relationships. "One's fandom on whatever social platform grows (and sticks around) if you're giving them awesome content," he says, adding that the brands that have good content and services get mileage. "There is too much emphasis on contests, sweepstakes, custom Facebook tabs, and buying followership. There are no shortcuts in social media." Read the whole story...

Gyro is making big noise in the B-to-B advertising world. The agency has hired Michael Lehmann, a director whose Hollywood credits include "True Blood," "Californication," and "Heathers," to shoot a commercial for cloud-tech company Turn. The ad didn't run on a SlashDot-type site, or on some screen in a booth at a tech fair. It ran during "Mad Men." Gyro has 17 offices in 10 countries. Clients include Audi, FedEx and L'Oral. Also on the client list are consumer marketers like Lincoln Financial Group and Virgin Atlantic. Read the whole story...