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Abercrombie & Fitch - Not At Inflection Point Yet

After a successful run since the turn of the century which lifted the share prices from $28 in 2003 to low 70's in 2013, general weakness in teen retailing knocked the share prices by almost 50% for Abercrombie & Fitch (NYSE:ANF). Late last year investors breathed a sigh of relief after ouster of longtime CEO Mike Jefferies, hoping new leadership changes will strengthen the turnaround narrative for the ailing retailer. Given the continued deceleration in comp sales, I think it's too early to call an inflection point for Abercrombie shares despite its attractive valuation…