Shares of Abercrombie & Fitch Co.
ANF,
bulled 0.5% higher toward another record high and the longest win streak in 25 years, as investors enjoyed the best yearly performance since the apparel retailer went public in September 1996. The stock has run up 19.3% over the past 10 winning sessions, which would be the longest such streak since the 16-session stretch that ended Nov. 18, 1998, according to Dow Jones Market Data. The stock was headed for a third-straight record close, about 15 years after reaching it’s previous record close of $84.51 on Oct. 10, 2007. And so far this year, the stock has rocketed 298.8%, compared with the previous record yearly gain of 126.4% seen in 1998. The stock’s resurgence has come following a string of earnings beats amid increasing demand for clothes. Meanwhile, the SPDR S&P Retail ETF
XRT,
has rallied 18.3% this year and the S&P 500
SPX,
has climbed 23.4%.
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