Abercrombie & Fitch Disappoints

Abercrombie & Fitch Co. (NYSE: ANF) reported a larger than expected loss for the first quarter of 9 cents per share compared with a loss of 25 cents per share in the year ago period as revenue dropped. The teen apparel retailer lowered its full year earnings guidance sending the stock price plummeting $4.35 to close at $50.02.

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