Abercrombie & Fitch | featured news

This morning Bloomberg reported that Abercrombie & Fitch CEO Michael Jefferies, who has led the retailer for nearly two decades, has announced that he intends to sell as much as 1.79 million of his shares. At current market value, a sale of that magnitude would net him nearly $63 million pretax.

Abercrombie & Fitch was the biggest surprise of the month wiith a 9% jump in same-store sales, while Nordstrom posted double-digit gains.

Sales increase 3.3% over a year earlier in a usually slow month. Notably, beleaguered Abercrombie & Fitch posts an 8% increase.