Abercrombie & Fitch (ANF) Lower as Cramer Adds to 'Sell Block'

Abercrombie & Fitch (NYSE: ANF) is lower Friday amid negative comments from stock sage Jim Cramer.

Cramer added Abercrombie & Fitch to his Sell Block on Thursday night and added CEO Mike Jeffries to his Wall of Shame. Cramer said Jeffries should retire and turn the company over to new management.

In addition, Cramer noted that Abercrombie & Fitch was underperforming in an environment where even JCPenney (NYSE: JCP) had positive things to say at one point. While he thinks Jeffries has lost touch with his customer base, Cramer also noted that the retailer was horrible at managing expectations. So far in 2013, the company has slashed estimates by half, which investors have felt in the stock price.

Jeffries contract ends at the end of 2013 and Cramer hopes it isn't renewed. He noted that Abercrombie & Fitch isn't cool anymore, one of the worst spots to be in given the company's customer base.

Shares of Abercrombie & Fitch are down 1.7 percent.

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