Volume Spike Investor

Abercrombie & Fitch Co. (NYSE: ANF) is trading higher after it reported earnings that were ahead of estimates.  The problem is that it was on poor sales.  The young adult retailer posted $0.30 EPS vs 0.20 estimates; sames store sales were down 22% from a year ago. Total sales were down 15% at $765.4 million. At 8:32 AM EST we have seen 165,000 shares trade, which is very active for this stock in pre-market hours.  Shares are up 6% at $39.04.  Average volume is about 4 million shares and the 52-week trading range is $13.66 to $38.29.  A&F might be up, but those sales need to start looking less and less bad for the stock price to continue much further from here.

JON OGG