What does the write-down mean?

What journal entry would Abercrombie & Fitch have made to write down its merchandise inventory during the year ended January 30, 2016?

What impact would the write-down of inventory have had on Abercrombies assets? Liabilities? Equity?

What impact would the write-down of inventory have had on Abercrombies expenses? Gross margin? Net income?

What impact, if any, would the write-down of inventory have had on Abercrombies current ratio?

From an investor standpoint, do you think that the effect of the inventory write-down should be considered when evaluating Abercrombie & Fitch? Explain.