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He didn't want to do it. But in the end Cramer felt he had no choice.
The Mad Money host put Michael Jeffries, the long-time chairman and CEO of Abercrombie & Fitch on the Wall of Shame.
Cramer admits that Jeffries has pedigree. "He built Abercrombie & Fitch up from virtually nothing into an upscale teen apparel retailer that became one of the hottest brands of the '90s. "
That counts for something. But on Wall Street a CEO can't rest on his laurels.
"The stock market always wants to know, what have you done for me lately? And when it comes to Mike Jeffries, the answer is not much, " Cramer said.
First the Mad Money host says Jeffries isn't managing expectations.
"Let me take you back to this past May, when reported its first quarter results; management gave some incredibly bullish forecasts, hyping the results to high heaven. But then, literally just a few months later, ANF delivered a sobering earnings warning. Could this guy be more clueless? "
Also, Cramer doesn't think Jeffries grasps the trends and styles that excite today's teen.
At a time when all sorts of apparel retailers have been posting terrific results Abercrombie & Fitch delivered some truly hideous numbers.
"I'll admit that the teen retail industry can be incredibly fickle," Cramer said, "but Jeffries is now 69 years old. What does he know about clothing that resonates with today's 15-year old."
In addition, Cramer thinks the company's financial initiatives are somewhat misguided.
"When the company held its annual analyst meeting, some investors were hoping Abercrombie might start making massive changes to and revitalize its flailing brands. Instead the company held a "high level discussion of marketing."
On top of that, Cramer says the metrics are lousy.
"The company posted a 14% decline in same store sales, that's hideous. Even worse, ANF gave full-year earnings guidance of $1.40 to $1.50, when Wall Street was expecting them to earn $1.95 a share."
Of course, nothing matters more to Cramer than stock performance. And, on that front, returns have been nauseating.
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Year to date are down more than 25%, while rivals such as the Gap and Guess are both up 35%.
"Over the last two years, ANF's stock has been hammered. This used to be the hottest teen brand in the world, yet under Jeffries' recent leadership, Abercrombie & Fitch has become practically irrelevant."
Again, Cramer hates to do this to someone with pedigree but considering the negative spiral, he felt he had no choice. "Mike Jeffries, welcome to the Mad Money Wall of Shame."
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