Shares of Abercrombie & Fitch (NYSE:ANF) are spiraling fast. The retailer reported weaker-than-expected same-store sales and announced closures of three of its stores. ANF stock is down 25%, currently selling for $18.90 on the news.
The clothing retailer is planning on closing three of its bigger stores including its Hollister location in Soho, New York.
Abercrombie & Fitch Shares Tank On Q1 ReportThe company reported same-store sales that were up 1% during Q1; however, analyst estimates from Refinitiv expected 1.3%.
Further, the clothing giant reported a net loss of $19.2 million ...
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