Piper Jaffray Says Holiday Season Strong For Abercrombie (ANF)

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.