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Abercrombie & Fitch (ANF)

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  • May 1, 2014, 8:57 AM
    • Jefferies raises its rating on Abercrombie & Fitch (ANF) to a Buy rating from Hold.
    • Earlier today, peace broke out between the harried retailer and the feistiest of its activist investors.
    • ANF +2.3% premarket
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  • 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)
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  • 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.
    | 1 Comment
  • 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..
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  • 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.
    | 1 Comment
  • 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.
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  • Mar. 25, 2014, 12:36 PM
    • Engaged Capital says it has hired an unnamed professional services firm to help it push for major changes at Abercrombie & Fitch (ANF -2.7%).
    • Removing Michael Jeffries as the retailer's CEO is believed to be part of Engaged's master plan.
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  • 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.
    | Comment!
  • 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)
    | 5 Comments
  • 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.
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  • 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.
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  • 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%.
    | 3 Comments
  • Mar. 5, 2014, 9:06 AM
    | 148 Comments
  • 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.
    | 3 Comments
  • 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.
    | 1 Comment
  • Feb. 26, 2014, 2:44 PM
    | 48 Comments
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Company Description
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.
Sector: Services
Industry: Apparel Stores
Country: United States