Piper Jaffray is out with a research report on the holiday shopping season and says it was positive for Abercrombie & Fitch Co. ANF.
In the research note, Piper Jaffray says, "Business was strong for most apparel retailers as rampant discounting (average of 40% off pre-Christmas) gave shoppers reason to purchase for those on their gift list and for themselves. We noticed particular sell-through strength in men's apparel, which bodes well for ANF and ZUMZ. Most specialty retailers kept their post-Christmas promotions identical to the pre-Christmas promotions, a positive indication of in-line inventory levels."
Shares of ANF closed at $57.15 yesterday, down 19 cents.
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