Squeeze Alert: Abercrombie Hasn't Been This Cheap into the Print Since '08

Consensus Estimates + Historical Valuation Context

Abercrombie is once again trading as a dead set of brands at 7.2x forward earnings. The last time ANF traded this cheap into a print was all the way back in November of 2008 (5.9x then, and it quickly rerated higher to 25x within ~6 months. We got close to this same level just over a year ago, and a 15% single day rally ensued despite earnings write-downs: