NOTE: Trending tickers is an index compiled exclusively by Yahoo Finance every day. It’s a list of companies whose stocks are seeing the biggest bump in interest as measured by your Yahoo Finance Ticker searches.
The theme today seems to be retailers! Lowe's (LOW) is on the list, as are some discounters like T.J. Maxx (TJX), the Dollar Tree (DLTR), and for the second day in a row Zulily (ZU) -- but today we’re focusing on Abercrombie and Fitch (ANF).
Abercrombie had mixed results coming in light on sales and beating EPS estimates on a non-GAAP basis. Using their own accounting methods ANF beat by more than 20 cents but missed by a mile if you apply normal accounting.
What has the stock higher are some of the strategic measures being taken by CEO Mike Jeffries. Jeffires says the company is closing 70 U.S. stores, expanding internationally and offering lower priced goods via outlets. While still rather non-specific the movers counter the perception of Abecrombie only appealing to wealthy, skinny American kids. The chain is also shortening its so-called “lead time” allowing it to respond to fashion shifts more quickly.
It’s today’s earnings theme writ large: Any retailer that managed to survive the tough holiday quarter seems to be moving higher today.
We’ll see you back here tomorrow.
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- Abercrombie and Fitch