Abercrombie & Fitch (ANF) NewsBite - ANF Posts Disappointing Same-Store Sales

Posted on Thursday, July 10, 2008 10:54 AM

Abercrombie & Fitch Co. (ANF) opened at 56.80. So far today, the stock has hit a low of 55.07 and a high of 57.25. ANF is now trading at 55.21, down 1.97 (-3.47%). The stock hit its 52 week high of 85.77 in October and set its 52 week low of 55.07 today. ANF has been trading lower since October of last year. Abercrombie & Fitch reported this morning its same-store sales fell 3% in June on weak sales of women's apparel and fewer transactions per store. Analysts expected same-store sales to fall 2.8%. Technical indicators for the stock are bearish and steady while S&P gives ANF a very positive 5 STARS (out of 5) strong buy rating. If you’re looking for a hedged play on this stock, consider a November bear-call credit spread above the $75 range. ANF stock could rise up to 35.8% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]