May 24, 2013 at 12:52 PM EDT
Abercrombie Misses, Latest In String Of Weak Reports
Abercrombie & Fitch (ANF) shares gapped down sharply on higher-than-average trading volume Friday after it reported disappointing first-quarter earnings and issued a weak outlook. The young men's and women's apparel chain lost 9 cents per share in the quarter, narrowing from the 25-cent-a-share loss a year ago, but worse than the 5-cent loss Wall Street expected. Revenue slid 8.9% to $838.8 million, well below consensus views of $941.25 million.
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