The stock closed up 5,4% on Tuesday, $37.92 last.
Update: "Goldman Bankers Arrive at Abercrombie & Fitch (ANF)"Abercrombie & Fitch has retained Goldman Sachs as an adviser as the troubled clothier assesses potential responses to moves by one of its investors, the activist hedge fund Relational Investors, a person briefed on the matter said on Wednesday.
Relational, which is headed by Ralph V. Whitworth and is considered one of the top activist shareholders around, currently holds a roughly 3.8 percent stake in Abercrombie & Fitch, according to its most recent regulatory filing.
Mr. Whitworth’s firm, which is based in San Diego, has established a reputation as an investor that companies listen to. He gained a seat on the board of Hewlett-Packard in November as emerging as a major shareholder. (The technology pioneer had also hired Goldman as an adviser in that instance.)...MORE