** Barclays starts coverage on apparel retailer Abercrombie & Fitch ANF.N with "equal weight" rating and $71 PT

** PT represents a 1.3% downside to the stock's last close

** Brokerage says ANF has seen strong sales growth across all regions and brands, with a 17% increase in sales in the last year

** ANF has a strong online and offline sales model, with 46% of revenue coming from digital sales and store margins of around 30% - Barclays

** Brokerage says the execution of the planned 100 store openings, effective go-to-market partnerships and online shopping enhancements will drive future growth

** Barclays flags risks that includes elevated inventory levels, higher freight costs, tough sales comparisons, increased marketing spending, and tariff uncertainty, which may collectively pressure profit margins and impact sales

** As of last close, ANF stock down 51.2% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))