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Non-Tech : Abercrombie and Fitch -- Ignore unavailable to you. Want to Upgrade?

To: AV8R who wrote (265)	2/16/2000 10:18:00 AM
From: rrufff	Read Replies (1) \| Respond to of 335

Company apparently led analysts into believing that earnings would be higher (whisper number was as high as .83) and same store sales were only up 3% which is getting a lot of play. Last year was so good that in retrospect it would have been impossible to continue with such favorable trends. My take is that the analysts, who were already upset at the selective disclosure problems the company had, are quickly downgrading and dumping. I am in 19 5/8, didn't sell at 25 (obviously a major mistake) and am now adding today. I don't know how low it will go but feel this is still a quality value play. I wouldn't be surprised to see it mid 13. The stores are always packed when I go there. It still has a ridiculously low PE. If management takes a clue here, they will turn it around. I think that management is finally getting wind that it has to do something. Part of the press release indicates that it will buy back 6 million shares, which is substantial. The next step would be for management to buy in personal accounts to show they have faith in their company such that they will risk their own money and big salaries. Furthermore, they have to resolve the SEC issues immediately by placing blame where it belongs and firing the appropriate parties. If you read other boards you will see that there are shorts bashing to the extent that they claim the company will go into bankruptcy. Fact is the company actually met its earnings estimates. They have plenty of cash and their financials look great for the industry. Don't listen to hype and bashing. I think it's a great value play -- needs 6-9 months for a double.