Actionable news
All posts from Actionable news
Actionable news in ANF: ABERCROMBIE & FITCH CO.,

Abercrombie & Fitch is no longer for sale, sending stock plunging

America's top retailers in trouble

Abercrombie & Fitch has decided that it no longer wants to shop itself. The teen apparel retailer said Monday it has ended discussions about a possible sale. It was only two months ago that the company had put itself on the shopping block.

But A&F chairman Arthur Martinez said in a press release that the retailer "determined that the best path to enhance value for stockholders is the rigorous execution of our business plan."

He noted that the company's Hollister brand was showing momentum and that there were strategies in place to revitalize the core A&F brand.

Wall Street remains understandably skeptical. Shoppers have largely stayed away from the retailer.

Sales have been sluggish for years. The company reported another quarterly loss in late May and analysts...