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.