I just noticed that Jeffries Securities downgraded to a hold today. After enduring the ARO stock manipulation of December, I'm wondering if something is going on now with GPS. I think GPS is a good buy. I don't have the sales info or anything like that though, but I think that they had a good Christmas. Isn't the stock depressed today simply due to this downgrade by one analyst? After all, most of the other reatail apparel stocks are up today, along with a big increase in the market overall.
I live in Rochester, NY which I would say is a pretty conservative part of the country. I was just in the mall and checking out stores. Not many people in the GAP (bad news) but I noticed there were a lot of empty shelves (good news). Mall was pretty busy around 1:30pm as I suppose a lot of people took early days like myself. Curious to see what is happening around the rest of the country. Also, as the latest headline stated, big 60% off red banners promoting jeans and such. Personally, don't see a problem with that, need to get the people buying again. Didn't have a chance to check out Old Navy or Banana Republic.