May 1, 2014, 8:57 AM
May 1, 2014, 5:08 AM
- Abercrombie & Fitch (ANF) has nominated four new independent directors as part of a peace deal with activist investor Engaged Capital, which had been agitating for an overhaul. Four current directors will make way for the new members.
- CEO Mike Jeffries looks set to keep his job even though Engaged had wanted to replace him amid falling sales. Jeffries has been reshuffling Abercrombie's management as part of a turnaround strategy and he gave up the Chairman's position in January. (PR)
Apr. 9, 2014, 5:02 PM
- Joanne Crevoiserat, previously Kohl's EVP of Finance, has been hired by Abercrombie & Fitch (ANF) to be its new CFO. She's expected to start in May.
- Crevoiserat will take take over from, and report to, Jonathan Ramsden. Ramsden has been serving as both CFO and COO since being promoted to the latter position in January.
- Also: Leslee Herro, Abercrombie's EVP of merchandise planning, is retiring in September. Her responsibilities will be split up between Crevoiserat and Abercrombie's brand leadership teams.
Apr. 9, 2014, 11:09 AM
- Fast-forward companies have the scale to continue to put the pricing hammer to teen retailers (AEO, ARO, ANF, GPS, PSUN, ZUMZ, EXPR, BKE), according to analysts.
- Though the group has been shifting strategy to align closer to the new styles and pricing points that teenagers want, fast-fashion giants such as Hennes & Mauritz (HMRZF), Fast Retailing (FRCOY), and Inditex (IDEXY) appear to be at least a step ahead.
- What to watch: Critical to the successful transition of any teen retailer toward a fast-fashion model will be the ability to retool supply chains and cut down manufacturing turnaround times. Gap might have the edge in this area..
Apr. 8, 2014, 10:54 AM
- Hollister stores have a new store front, observes Retail Eye Partners.
- The development is slightly confounding to the research firm with the inside of Hollister stores still unchanged.
- There's a general consensus amongst retail analysts that the Abercrombie & Fitch (ANF -2.1%) lifestyle brand has lost its allure with teenagers. An anticipated shift to fast-fashion will be a work in progress as the merchandising cycle is worked out by the company.
Mar. 26, 2014, 1:08 PM
- Levi Strauss says it will cut 800 jobs in a cost-cutting move.
- The private company says it will save as much as $200M in annual costs after the job reductions are enacted.
- The development is interesting in light of the stance of many apparel retailers (AEO, ARO, ANF, LB, GPS, ZUMZ, EXPR, GES) that their recent shortfall in sales and traffic is a temporary weather-related issue. A 20% cut in its work force by Levi Strauss is no ray of sunshine for the outlook on the industry.
Mar. 25, 2014, 12:36 PM| Comment!
Mar. 19, 2014, 9:22 AM
- Retail analysts are still buzzing over the 0.3% drop in apparel and clothing prices reported by the Department of Labor yesterday.
- The drop works out to 3.6% on an annualized basis and came during a month when prices are supposed to snap back from their holiday promotional fervor.
- Related stocks: ARO, ANF, AEO, ZUMZ, PSUN, BKE, EXPR, WTSL, TLYS, CACH, GPS, LULU, LB, ANN.
Mar. 14, 2014, 1:26 PM
- The Center for Labor Market Studies at Northeastern University is out with a shocking report on the unemployment rate of teenagers.
- A study by the group found that the percentage of teens that were employed dropped 19 percentage points to 26% during the period from 2000 to 2011. Some analysts think the rate is actually even lower today.
- One group that might not be shocked by the apparent cash-strapped nature of teenagers is apparel retailers. Firms up and down the sector have been rocked by weak traffic trends that are tied to more than winter weather.
- Related stocks: ARO, ANF, AEO, ZUMZ, PSUN, BKE, EXPR, WTSL, TLYS, CACH.
- Full report: The Plummeting Labor Market Fortunes of Teens and Young Adults. (.pdf)
Mar. 11, 2014, 9:07 AM
- Weak reports from Urban Outfitters (URBN) and American Eagle Outfitters (AEO) could cast a pall over the entire teen apparel sector.
- Both retailers say they are very cautious on Q1 results after seeing weather clip traffic and the holiday promotional activity linger on.
- On watch: ARO, PSUN, PLCE, ANF, CHS, BKE, ZUMZ, EXPR.
Mar. 6, 2014, 2:40 PM
- Abercrombie & Fitch (ANF -1.2%) says it plans to rework its Hollister lifestyle brand to turn it into a fast-fashion concept which can pivot quicker to teenager tastes.
- Same-store sales at Hollister have been falling even faster than A&F-branded stores in recent quarters with teens turning away from pricey jeans and T-shirts.
- The company is looking for a new president for Hollister with some fast-fashion chops.
Mar. 6, 2014, 9:42 AM
- Teen-focused retail stocks are having a tough time getting out of the starting gate after a wave of sales and profit reads came in sluggish.
- There are more concerns on the large retail footprint of the group with margin gains being driven higher on the e-commerce side of the business.
- Decliners: Aeropostale (ARO) -1.5%, Pacific Sunwear (PSUN) -1.7%, Children's Place (PLCE) -10.2%, American Eagle Outfitters (AEO) -1.7%, Abercrombie & Fitch (ANF) -0.9%.
Mar. 5, 2014, 9:06 AM
- A recent poll by the Wall Street Journal and NBC indicates 63% of American support raising the minimum wage.
- Though the Republicans are expected to challenge anything brought to the floor of the House, there's a growing consensus in DC that some minimum wage legislation will eventually pass.
- Democrats argue that the current minimum wage level of $7.25 per hour is low by historical standards when adjusted for inflation.
- Related stocks: CAKE, CBRL, CMG, DNKN, DPZ, DRI, EAT, JACK, MCD, PNRA, RRGB, RT, SBUX, SONC, WEN, BWLD, THI, BDL, NATH, CEC, LUB, BKW, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN, AEO, ANF, ARO, BBBY, BJ, CHS, COST, DG, DLTR, GPS, HD, JCP, JWN, KR, KSS, LOW, LB, NDN, ODP, PIR, PLCE, RSH, SPLS, SWY, TGT, TJX, URBN, WMT
Mar. 4, 2014, 9:41 AM
- Two beat-up retailers have fallen back in favor this week as J.C. Penney (JCP +8.2%) and Abercrombie & Fitch (ANF +6.4%) both show surprising rebounds.
- Some of the more caustic retail watchers are quick to note that the gains are being built up on commentary instead of financial performance.
- On one thing nearly everybody agrees: There is more drama coming down the road for the two companies.
Mar. 4, 2014, 7:18 AM
- Credit Suisse upgrades Abercrombie & Fitch (ANF) to an Outperform rating and assigns a $52 price target to shares.
- The investment firm says A&F is finally addressing structural changes in the teen apparel market.
- Look for the retailer to reduce its retail footprint and increase its focus on e-commerce channels this year.
Feb. 26, 2014, 2:44 PM
- Three Senate Democrats have broken away from Majority Leader Harry Reid's $10.10/hour line in the sand on minimum wage legislation.
- Mary Landrieu of Louisiana, Mark Pryor of Arkansas, and Mark Warner of Virginia have all tipped off that they think there could be some room to negotiate over the amount of an increase over the current federal minimum wage of $7.25/hour. The GOP likes the status quo, but is viewed as likely to give some ground in an election year.
- Federal minimum wage legislation could create higher costs in the retail and restaurants sectors as companies adjust to the new higher floor.
- Last week, Gap made a preemptive move to raise its own hourly wage in a development that stirred the pot a little bit.
- Related stocks: CAKE, CBRL, CMG, DNKN, DPZ, DRI, EAT, JACK, MCD, PNRA, RRGB, RT, SBUX, SONC, WEN, BWLD, THI, BDL, NATH, CEC, LUB, BKW, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN, AEO, ANF, ARO, BBBY, BJ, CHS, COST, DG, DLTR, GPS, HD, JCP, JWN, KR, KSS, LOW, LB, NDN, ODP, PIR, PLCE, RSH, SPLS, SWY, TGT, TJX, URBN, WMT.
ANF vs. ETF Alternatives
Abercrombie & Fitch Co is a specialty retailer, which operates stores and direct-to-consumer operations. The Company sells products, including casual sportswear apparel, including knit and woven shirts, and graphic t-shirts.
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