Piper Jaffray Provides Color on Specialty Retailing

Piper Jaffray provided color on the specialty retailing sector. In a research report published today, Piper Jaffray commented on the sector's recent performance. At the same time, the rating agency named Abercrombie and Fitch ANF as its top pick. In the report, Piper Jaffray states, “Our week 4 BTS specialty retail pricing study reveals a modest sequential +3% increase and an overall (5%) y/y decline for key items versus a (7%) y/y in week 3 of our analysis. In contrast, our mass merchant BTS index is +10% y/y driven largely by price increases in the denim category and shorts. ANF remains our top specialty retail pick given its strategic promotional cadence and share gains.” On Friday, ANF added 4.3% to its value to end the week at $70.30.