NEW YORK (TheStreet) -- Abercrombie & Fitch Co. (ANF) announced that it's shifting away from its logo focused apparel, as the teen clothing and accessories retailer works to regain consumers that have lost interest in its line of "preppy" t-shirts and sweatshirts, the Chicago Tribune reports.
Shares of Abercrombie & Fitch are up 0.07% to $41.90 in pre-market trading on Friday.
On Thursday the company's stock slumped after it reported a decline in same-store-sales for the 10th quarter in a row.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
"In the spring season we are looking to take the North American logo business to practically nothing," company CEO Mike Jeffries said to the Tribune.
Abercrombie is trying to rework its image after the CEO made a comment last year suggesting the cloths the company produced were for "cool" and "attractive" teens, and not for "fat" people, the Tribune added.
Separately, TheStreet Ratings team rates ABERCROMBIE & FITCH as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ABERCROMBIE & FITCH (ANF) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."