Abercrombie & Fitch upgraded to Outperform from Neutral at Credit Suisse Credit Suisse upgraded Abercrombie following the better than expected Q4 report based on a more price competitive strategy and positive earnings momentum. Price target raised to $52 from $36.
Abercrombie & Fitch enters into franchise agreement with Grupo AXO in Mexico Abercrombie & Fitch announced that it has entered into a franchise agreement with Grupo AXO to establish a retail store presence in Mexico. The franchise arrangement will encompass both the Abercrombie & Fitch and Hollister brands. The first Hollister store is set to open in late spring 2015 and the first Abercrombie & Fitch store is expected to open in late summer 2015. The company anticipates a continuing rollout that will include stores in cities like Mexico City, Guadalajara, Cancun and Playa Del Carmen.