Mizuho's Betty Chen Says Abercrombie & Fitch Seems To Have A 'Lack of Vision'
Betty Chen, Mizuho Securities analyst, told Benzinga that the news of Abercrombie & Fitch Co. (NYSE: ANF) CEO Michael Jeffries’ retirement was “quite welcome,” especially after the last few disappointing quarters.
Chan referenced the delayed launch of a product turnaround investors have been waiting for was supposed to start this back-to-school season.
“It really seems like there’s still a lack of vision to what their customer base wants at each respective brand,” Chan said.
In addition, Chan said explained that Abercrombie brands are not getting the same-store sales as they used to.
“We think there’s an opportunity for them to close a few more stores domestically,” she said.
Latest Ratings for ANF
|Dec 2016||Argus Research||Downgrades||Hold||Sell|
|Nov 2016||Deutsche Bank||Downgrades||Hold||Sell|
|Nov 2016||RBC Capital||Downgrades||Sector Perform||Underperform|
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