Fashion Index up despite Greek clouds

Wednesday, 25 January 2012
The FashionUnited Top 100 Index closed Tuesday at 1,339.56, thanks to a humble rise of 0.91 points and despite the failed plans to overcome Greece economic difficulties clouded the international stocks markets.

Collective Brands Inc.rallied 4.8 percent to $15.65. The company may extract the biggest takeover premium of any apparel retailer in the world as the maker of Saucony and Sperry Top- Sider shoes lures private equity buyers, Bloomberg reported.

In the meanwhile, one of Tuesday's notable stocks on the rise was Abercrombie & Fitch, up 2.0% to $45.11. As highlighted by the Financial News Network Online (FNNO), Abercrombie & Fitch (NYSE:ANF) has potential upside of 41.7% based on a current price of $45.11 and analysts' consensus price target of $63.92.

Urban Outfitters managed to end up again, becoming one of the stocks under the spotlight as climbed up 2.5% to $26.36 per share, compared to a S&P that was trading lower by 0.3% to 1,312 and the Dow was trading 0.4% lower to 12,662. As pointed out at 24/7 Wall Street, “Urban Outfitters, Inc. may be without its old CEO now, but Stern Agee said that its troubled Anthropologie unit has easy comparisons in Q1 and Q3 in particular. It noted, “Its efforts to clear inventories by the end of Q1 could lead to comps that meet or exceed expectations in Q1.”

Across the Atlantic, UK stocks fell sharply as Europe’s debt woes again weighted London markets after Greece’s efforts to reduce its debt received a setback with Europe rejecting a proposal tabled by private holders of Greek debt. Consequently, the FTSE 100 stumbled and lost 48 points (0.85 percent).

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