Nomura Securities Reiterates a 'Buy' on Abercrombie & Fitch (ANF) Following Visit

Nomura Securities reiterates a 'Buy' on Abercrombie & Fitch (NYSE: ANF).

Nomura analyst, Paul Lejuez, said, "Following a visit to the Gilly Hicks store in London, it seems the store is off to a great start with steady traffic during the week and huge lines on the weekends. Relative to the Gilly Hicks stores in the US, the square footage seemed 30% smaller (which we like) and the outside of the store featured a 2 story store front. We believe opening Gilly Hicks stores in malls which already house a Hollister is a big opportunity for future growth in Europe."

For more ratings news on Abercrombie & Fitch click here and for the rating history of Abercrombie & Fitch click here.

Shares of Abercrombie & Fitch closed at $59.30 yesterday.

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