Apparel retailer Abercrombie & Fitch is reported to be working with investment bank Perella Weinberg to deal with takeover interest, sources told Reuters. With the company’s shares trading at a 17-year low, the time for a buyout may be ripe. The poor performance of its share price reflects the poor sales and earnings generated by the company of late. During 2016, the stock price plummeted 56% to end the year at $12.
The once iconic teen retailer has failed to keep up with changing preferences among customers, and has suffered as a result, plagued with a number of periods of declining sales.
