Piper Jaffray Favors High-End Women's Retailers

Piper Jaffray said today that it continues to favor the women's apparel retailers that cater to the higher-end of the economy, including Limited Brands, Inc. LTD and Nordstrom, Inc. JWN. “We believe LTD was a clear winner in December based on our store checks in each of their two mega brands: Victoria's Secret and Bath & Body Works,” Piper Jaffray writes. “We are therefore expecting same-store sales to increase for LTD despite a negative impact from a later start to the Victoria's Secret Semi-Annual Sale. While Nordstrom is not a promotional retailer, we note that this retailer has been gaining momentum on a two-year same-store sales basis.” Nordstrom, Inc. closed at $42.38; Limited Brands, Inc. closed at $30.73.