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Abercrombie & Fitch Shares Drop Sharply

Stock quotes in this article: ANF , ARO , BKE  

NEW YORK (AP) — Shares of Abercrombie & Fitch Co. tumbled Thursday after the teen retailer posted a bigger-then-expected drop in same-store sales for May.

Its stock shed $3.56, or 11.3 percent, to $28.12 in midday trading.

Before the market opened, Abercrombie reported its same-store sales plunged 28 percent in May. The decline was about 4 percent steeper than Wall Street analysts expected, according to a poll by Thomson Reuters. In the year-ago period, Abercrombie saw its same-store sales dip 1 percent. ...

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