Market Overview

Abercrombie & Fitch Regains Its Swagger (ANF, JCG, ARO)

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Abercrombie & Fitch (NYSE: ANF) is getting its mojo back after reaching a new 52-week high this morning.

The teen retailer struggled during the recession as it was late to cut prices and its fashion became stale. Competitors such as J. Crew (NYSE: JCG) and Aeropostale (NYSE: ARO) swept in and took market share from Abercrombie.

In February, however, Abercrombie posted a same-store-sales increase of 5.0%. This increase came on the heels of almost two years of same store sales declines.

Recently, analysts have become more upbeat on Abercrombie's prospects, citing international expansion and better inventory management. Today shares are up 74 cents, or 1.64%, to $45.80. Shares earlier touched a 52-week high of $45.92.

Options activity has been heavy today as well. Traders are eyeing the April 46 calls, with 5,766 contracts being traded versus an open interest of 1,162. The calls expire April 17. Abercrombie is set to report earnings on May 18.

Posted-In: Options Intraday Update Movers

 

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