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Shares of Abercrombie and Fitch Co. (NYSE: ANF) continued to rally this morning on news that its controversial Chief Executive Officer Mike Jeffries has abruptly retired. Jeffries, who has served as CEO since 1992, will also be leaving the company's board of directors. This clears the path for the retailer to receive takeover offers from suitors. The stock hit a 52-week low last week on a weak earnings report. Shares were up more than 8% in yesterday's trading session.