SP is down near 52 week low on challenging retail season, and I see substantial "automatic" EOY selling by the chairman.
The market should soak up those, and ANF reports Feb 15th.
Meanwhile today's downgrade from a firm I've not heard of softened the SP further.
In for a swing trade.
News:
MARKET TALK: Brean Murray Sounds Cautious On Abercrombie
BY Dow Jones & Company, Inc.— 7:57 AM ET 01/09/2012
Brean Murray Carret cuts Abercrombie & Fitch (ANF) to hold from buy, citing trouble in holiday sales at peers, and economic turbulence potentially affecting international sales. "Domestic teen market was, to put it mildly, a mess, for the Holiday season," firm says, as results at American Eagle (AEO), Aeropostale (ARO) and Wet Seal (WTSLA) "paint a picture of higher discounting, higher costs and material margins squeezes." Outside the US, BMC notes "numerous retailers mentioned that Canada began to slow in October and we believe results have remained weak," while the UK saw "one of the weakest Holiday seasons in recent history, as government austerity measures have taken hold of consumer sentiment."
(john.shipman@dowjones.com)
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