Abercrombie & Fitch Saves American Eagle From Making a Big Mistake
You can hear American Eagle Outfitters (NYSE: AEO) investors give a huge sigh of relief after Abercrombie & Fitch (NYSE: ANF) called off talks about selling itself. Because the ailing teen retailer has decided to go it alone and pursue "the rigorous execution" of its turnaround plan, American Eagle has been saved from the ignominy of turning into the next Sears Holdings (NASDAQ: SHLD).
In May, the struggling teen-apparel retailer announced that it was "in preliminary discussions with several parties regarding a potential transaction," with two primary suitors rumored to be American Eagle and Express (NYSE: EXPR), but those retailers are in no condition to be trying to save the one-time king of polo shirts and popped-collar preppy style.
Image source: Getty Images.
Source: Fool.com
