THE GHOST TRAIN
THE FINANCE GHOST: Abercrombie & Glitch?
The outdoor brand recovered strongly with a strong hand on the tiller, but the market can be a fickle fan
The Abercrombie & Fitch share price chart looks like a challenging stage of the Tour de France. Over five years, this wild ride has given shareholders a return of 800%! Of course, the world was imploding five years ago, so that’s not a particularly relevant base any more. If you choose a start date in January 2020, you’ll still see an eye-watering return of 460%. But in the past 12 months, punters are down 27%. Here’s the real kicker: the year-to-date performance in 2025 is a drop of 44%. Clearly, things have cooled off.
When you see returns like these, then there are only two explanations. The first possibility is that you are looking at a start-up that has hit the J-curve and gone on a journey to the moon, rewarding investors who enjoy operating at the sharp end of the risk-return spectrum. The second possibility is that you’re staring at a turnaround story, where a company flirted with death and then managed to get things right, rewarding those who once again are happy...
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