Piper Jaffray: Fashion Retailers Big Winners on Black Friday

In a published note, Piper Jaffray singles out Express Inc. EXPR, Nordstrom, Inc. JWN and Urban Outfitter, Inc. URBN as potential big winners on Black Friday, as shoppers so far seem to reward retailers offering a high degree of fashion, targeting a ages 20 to 30, and who are not perceived as typically promotional. Piper Jaffray comments, “Specifically, we have observed outsized traffic and conversion at Express, Nordstrom, and Urban Outfitters, potentially setting the stage for more meaningful market share gains in Dec. For women's apparel retailers, heavier promotional activity is likely the result of bloated inventories, and it does not appear that robust Black Friday traffic is helping to meaningfully move units out the door. We continue to favor EXPR, JWN, and URBN in anticipation of a continued strong consumer response.” EXPR closed at $20.13 per share on Wednesday, while JWM and URBN closed at $44.74 and $$25.26 per share, respectively.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsEventsAnalyst RatingsBlack FridayPiper Jaffray
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!