Buckingham Defending Abercrombie On Price Cuts (ANF, AEO)

Buckingham Research is out defending Abercrombie & Fitch ANF after the clothing company announced a 40% off denim sale this morning. Buckingham Research says this is a pre-planned promotion. It is trying to improve productivity and this isn't the first time Abercrombie has done this. Abercrombie also did this in the Fall and early Spring. Buckingham continues to like Abercrombie and believes this will squeeze American Eagle AEO. Shares of Abercrombie & Fitch are trading at $35.74, down 64‎ cents in Thursday trading.