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Mike Jeffries, the controversial CEO of Abercrombie & Fitch, has unloaded exactly 100,000 shares of company stock over the past three weeks, which translates into roughly a $3.6 million dollars combined. On Monday, April 28, Jeffries made the first sale of 50,000 shares for $1.8 million and then made the same transaction a second time last Thursday, collecting another $1.8 million.
While these moves haven't upset the overall Abercrombie stock rating too drastically, they do pose some interesting questions. Namely, why is Jefferies selling huge chunks of his shares so rapidly? Maybe Abercrombie's new direction is too much change for the CEO who only wants his T-shirts on the "cool kids."
· Abercrombie & Fitch Co. CEO Sells $1,848,000 in Stock (ANF) [The Legacy]
· Abercrombie Wants You To Know They Follow Trends Now [Racked]
· Abercrombie Fails To Fire Mike Jeffries Again [Racked]