Abercrombie eyes takeover bids, and its stock rises

Abercrombie & Fitch's (ANF) stock rose 12% in early trading on Wednesday following a news report that the company was looking to sell itself..

The news, which drove up the company's stock $1.51 to $14.18, comes as major retailers are closing stores or filing for bankruptcy.

According to a Reuters story, Abercrombie has hired the investment bank Perella Weinberg Partners to oversee possible takeover deals

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Sears, J.C. Penney, Kmart, Macy's: These retailers are closing stores in 2017

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A one-time fashion darling for teenagers and 20-somethings, Abercrombie has since lost its mojo.

Other chains with major mall presences that are struggling  include PaylessBebeRue21J.C. PenneyMacy's and Sears,

Abercrombie's stock is at its lowest since 2000.

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