This holiday season Aeropostale may be on a number of shopping lists, but not for its fashion options, an article by the Wall Street Journal (WSJ) said. WSJ said activist investors and potential bidders have been buying up shares of the struggling teen retailer in recent months.

According to the article, Aeropostale on Tuesday adopted a poison pill, but not to deter suitors. The American retailer said it put the poison pill in place to give the company as well as its shareholders enough time to mull over any bid.

Crescendo Partners last week announced that it held a significant stake in Aeropostale. The private equity firm also said that the retailer should start weighing its go-private options, WSJ stated. The report alos added that Aeropostale's other large holders include investment firm Hirzel Capital Management and Eminence Capital. Hirzel made public its 6% stake in the retailer last week, while Eminence is the fund pushing for the Men's Wearhouse deal. 

WSJ said Crescendo's move came two months after private equity firm Sycamore Capital invested USD54 million for an 8% stake in Aeropostale. 

Given Sycamore's history with Talbots, Aeropostale shareholders fear that the retailer's falling profit margins may scare off other bidders, leaving only Sycamore in the auction, the report said.