Abercrombie & Fitch Must Suck In Its Gut

Abercrombie & Fitch(ANF Quote) may shed some of its store base when its leases expire over the next two years.

During a meeting with J.P. Morgan analyst Brian Tunkick, Abercrombie & Fitch management threw around words like "over-saturated" and "money losing stores," Tunick wrote in a note on Monday.

Over the next two years 210 leases are set to expire, or 20% of the store base, and Tunick says this could mean Abercrombie & Fitch will close some stores or negotiate for better lease terms.

Tunick expects the most potential closures at the Abercrombie & Fitch core concept, which he says could stand to lose about 100 stores. Currently there are 354 Abercrombie & Fitch locations. ...