Northern, WI  11/20/2012 (BasicsMedia)  — Even thinking about Black Friday gives me a headache, but I hate Malls and crowds as I’ve aged.  I really like to do my shopping Online !!  I trust the delivery mechanism and the money transfer…where some of the elders don’t.  But one store most will cross path’s with is Abercrombie & Fitch (NYSE:ANF) and will not think about the fact that shares of Abercrombie are among the most heavily shorted in the S&P 500 (SPX), meaning that buyers have borrowed the stock on a bet that its price will fall. As the stock rallies, short sellers rush in to to buy the stock in order to cover their short position before it heads even higher, hence the short squeeze.

Abercrombie & Fitch’s stock surged more than 30% Wednesday, logging the biggest one-day jump since its stock market debut in 1996. The big move came as the teen retail giant posted its first quarter of year-over-year profit growth in a year. For the three months ended Oct. 27, Abercrombie earned $71.5 million, or 87 cents per share, up 40% from a year earlier. Overall revenue rose 9% for the quarter to $1.2 billion, as international sales soared 37%. The results handily beat analysts’ expectations.

Abercrombie also impressed investors by boosting its forecast for the year, which also topped analysts’ expectations. The company is now looking to earn between $2.85 and $3 a share for its fiscal year, up from a previous projection of $2.50 to $2.75 a share.

Big retailers such as Target Corp. and Wal-Mart Stores Inc. aren’t the only stores opening early for “Black Friday” this year. The Mall of America says more than 180 stores in the Bloomington megamall will open at midnight on Black Friday. That’s about 35 percent of the approximately 520 stores that are at the mall. And the mall expects about 200,000 Black Friday shoppers this year.

The midnight opening time is three hours later than when Target (NYSE: TGT) stores will open on Thanksgiving, and four hours later than Walmart (NYSE: WMT), Sears and other retailers will open. Target opened at midnight in 2011, and said it is opening earlier this year to help families “create an after-dinner shopping event. ” Last year was the first time that big retailers, including Best Buy (NYSE: BBY), opened at midnight on Black Friday.

Disclaimer:  We have no position in any stock mentioned here.

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