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Mizuho's Betty Chen Says Abercrombie & Fitch Seems To Have A 'Lack of Vision'

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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

DateFirmActionFromTo
Dec 2016Argus ResearchDowngradesHoldSell
Nov 2016Deutsche BankDowngradesHoldSell
Nov 2016RBC CapitalDowngradesSector PerformUnderperform

View More Analyst Ratings for ANF
View the Latest Analyst Ratings

Posted-In: Betty Chan Michael Jeffries Mizuho SecuritiesAnalyst Color News Management Exclusives Analyst Ratings

 

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