Beaten down retail stocks are 'value plays'

"If you look at a stock like Abercrombie that stock went 48 to 31 from November to January, I think some of these stocks are now beaten down so much so they do represent some value plays," said Watts.

Apparel retailer Abercrombie & Fitch Co said on Monday it expects fourth-quarter net sales to rise between 4% and 6%, or $1.17 billion to $1.19 billion, from the year-ago quarter.Analysts, on an average, expect fourth-quarter sales at $1.24 billion, according to IBES data from Refinitiv.

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