Abercrombie & Fitch, once the favorite of loyal teens, is considering lowering prices on all items it sells in an effort to win them back after several years of sales declines. A&F's total sales were $7 billion last year, but they have been declining in the face of sales, but marketers need to analyze how much sales must go up before a price reduction pays off and increases revenue enough margin is 50 percent and cost prices by 20 percent? weak economy and an intensively competitive retail environment. Price reductions are often effective in increasing make the it worth doing. Assuming A&F's gross profit goods sold represents the only variable cost, by what percentage must costs decrease to maintain the gross margin percentage of 50 percent if A&F lowers the nearest cent.) Set the initial price equal to $1.00. Then the new price is $0.80. (Round The new cost per unit needed to maintain the original gross margin percentage is $ 0.40. (Round to the nearest cent.) The percentage change in cost is%. (Round to the nearest whole number.) Enter your answer in the answer box and then click Check