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Abercrombie & Fitch Bounces Off 50-Day.(B)
Byline: Jonah Keri
Abercrombie & Fitch bounced off its 50-day moving average Monday, rebounding from an early loss to gain 1 point as institutional investors stepped in to offer support. Abercrombie continues to build the right side of its base and sits 11% off its high.
The provider of upscale men's, women's and children's casual clothes and accessories operates about 500 mostly mall-based stores. Year-over-year sales has climbed 15% to 19% in the last four quarters. Profit jumped 12% to 29% during that time. Though several apparel-related stocks fared well Monday, the Retail-Clothing/Shoe group still ranks just ...
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