ANF Jumps Up On Impressive January SSS

Abercrombie & Fitch (NYSE: ANF) shares are up over 8% in pre-market trading, following much better than expected same store sales. At the current pre-market price of $34.55, the shares are just under the 50-day moving average of $34.78. If the stock can drive this moving average up, ANF will step into the bullish zone. The resistance levels to watch out are $35.25, $35.80, $36.38, while its support level is at $33.92.

ANF announced its January SSS increase by 8% versus the Retail Metrics estimate of a decline of 8.6% in the early morning. ANF’s Q4 revenues came in at $951 million, way ahead of the consensus expectations of revenues of $941.14 million and a Q4 SSS decline of 13%.