Shaun Currie, CFA
Long/short equity, hedge fund analyst, momentum

Abercrombie & Fitch: Multiple Ways To Realize Higher Returns

Executive summary:

  1. ANF recently reported new initiatives including: A separation of the CEO and Chairman roles, the hiring of brand managers for each of the businesses, a product reengineering initiative, and an accelerated share repurchase program
  2. Most importantly, about half of the company's stores can be closed in the next three years if sales continue to decline
  3. This has set up a scenario where there is upside in the stock whether or not sales stabilize at their current levels


Back in September, I wrote an article on my belief that Abercrombie & Fitch (NYSE:ANF) was the best candidate for a private equity takeout in the teen retailing space due to its operational issues and ability to take

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