ANF - Why Dollar Tree Dollar General and Abercrombie & Fitch Stocks Tumbled Today
The stock market is up in afternoon trading Thursday, but one segment in particular, retail , is still getting beat up.
As I predicted last week , teen clothier Abercrombie & Fitch (NYSE: ANF) is one of the victims today with a 6.1% loss as of 12:25 p.m. ET -- but it's not the only retailer going down. The dollar store segment in particular is taking it on the chin today, with shares of Dollar Tree (NASDAQ: DLTR) shedding 10.2%, and Dollar General (NYSE: DG) down 1.3%, despite both stocks beating earnings estimates.
A 1%-ish decline is actually good news for Dollar General investors -- the stock was down closer to 5% earlier in the day -- but it's still a bit of a disappointment. Reporting earnings this morning, Dollar General beat expectations with a $2.98 per share profit where Wall Street had only expected $2.93.
For further details see:
Why Dollar Tree, Dollar General, and Abercrombie & Fitch Stocks Tumbled Today