Deutsche Banks reports that the total apparel industry promotions increased by ~25% y/y in March, “more so than in January and February.”
“Second, the apparel industry offered bigger y/y percentage discounts this March (muted in January and February), perhaps given tough compares and a negative Easter shift,” Deutsche Banks writes. “Third, regarding individual brands, Ann Taylor ANN & J Crew saw the biggest y/y jump in the number of promotions, with each Abercrombie ANF brand seeing the biggest decrease; while Piperlime & Old Navy GPS offered the steepest March discounts, though Ann Taylor & Banana much less so.”
Gap Inc. closed Friday at $22.25; Abercrombie closed at $67.46; Ann Taylor closed at $30.67.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst RatingsApparel RetailBanana RepublicConsumer DiscretionaryDeutsche BanksJ CrewOld NavyPiperlime
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in