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Fly News Breaks for May 29, 2015
ANF
May 29, 2015 | 06:27 EDT
Janney Capital downgraded Abercrombie to Sell and reduced its price target to $15 based on expectations negative comps will persist, uncertainty of attracting new customer base, and EPS risk. Abercrombie is changing nearly everything in its legacy business and the firm said strategies that refocus new on a new target are some of the most difficult turns to effect and can leave a brand in "no man's land," having lost their loyal customer, but not yet connecting with a new customer base.
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