Wedbush Identifies The Most Notable Black Friday Clothiers

Wedbush said its checks show Black Friday promotions of Urban Outfitters, Inc. URBN and Anthropologie were higher than last year, with Francesca's Holdings Corp FRAN lapping tough compares despite strong traffic.

Apparel Retailers

“Traffic was strong at both Urban and Anthro and we believe deeper promotions tracked in line with internal plan based on management’s commentary on the 3Q conference call,” analyst Morry Brown wrote in a note.

Brown noted Francesca's incremental promotions for the fourth consecutive week against tough compares suggest business has slowed sequentially. The analyst added that L Brands Inc LB’s Victoria’s Secret generated strong traffic, with lines out the door at many locations.

In addition, Express, Inc. EXPR saw improved traffic and sell through with a modest tick higher in promotions, while Lululemon Athletica inc. LULU generated strong traffic without participating in storewide promotions.

Handbags

On the handbag front, Wedbush’s checks found that Kate Spade & Co KATE was the clear traffic winner relative to handbag peers over Black Friday weekend due to strong response to its Magic collection, Cameron Street Lane, Byrdie bags and glitter bags.

Meanwhile, Michael Kors Holdings Ltd KORS was the laggard among handbag retailers with minimal response to its tiered promotion, while Coach Inc COH saw favorable responses to the 30 percent off Thanksgiving sale and 50 percent off select Edie bags.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsTopicsEventsAnalyst RatingsMoversTrading IdeasGeneralAnthropologieBlack FridayByrdieCameron Street LaneCoach EdieEdieKate Spade MagicMAGICMorry BrownThanksgivingVictoria's SecretWedbush
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!