Jim Cramer: Change at Abercrombie & Fitch Not Enough to Buy Stock

Jim Cramer says Mike Jeffries stepping down as CEO of Abercrombie & Fitch is good news for the retailer but it's still no reason to want to buy teen apparel. Abercrombie & Fitch announced Tuesday that Jeffries would be retiring 'effective immediately', giving in to pressure from activist investors who wanted him out. Cramer says Jeffries was a very challenged executive and while his departure means an immediate increase in value, there's not much there and so this is a good opportunity to sell on a little bit of strength. The teen clothing company missed its third-quarter earnings estimates in November and slashed its full-year earnings forecast.