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vdgrerg R1
Joined: 04 Dec 2012 Posts: 4
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Posted: 04-12-2012 05:05:59 Post subject: Abercrombie a winner on Black Friday |
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Shares of abercrombie and fitch outlet gained in Monday trading after an analyst declared that the retailer was one of the winners on Black Friday.
THE SPARK: Adrienne Tennant of Janney Capital Markets said in a note to clients that abercrombie and fitch australia was among the shops experiencing lines of customers on the day after Thanksgiving, even though it offered slightly fewer promotions than last year.
THE ANALYSIS: Tennant said that abercrombie australia had discounts on certain merchandise in the days leading up to Black Friday. The retailer opened some of its stores at midnight on Black Friday and ran promotions online on Thanksgiving.
The analyst said that in looking at abercrombie and fitch sydney stores open on Black Friday, they appeared to be busiest between midnight and 2 a.m. By 8 a.m. store merchandise was messy and picked over, which Tennant viewed as a sign that its midnight to 6 a.m. 50-percent-off-entire-store promotion was very successful.
SHARE ACTION: abercrombie australia online's stock rose 81 cents, just under 2 percent, to $45.21 in morning trading, after earlier topping out at $46.15. Over the 52 weeks, the shares have traded between $28.64 and $54.10. The stock is down 10 percent for the year to date. |
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