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Mercy Killing: Abercrombie & Fitch Sheds Ruehl (Updated)
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Updated from 11:21 a.m. EDT
Abercrombie & Fitch(ANF Quote) finally came to its senses, announcing the closure of its famously flailing Ruehl concept.
The teen retailer will shutter all 29 Ruehl stores and related direct-to-consumer operations. It expects the closure to be completed by the end of the fiscal year.
Investors applauded the move, sending shares up 5% to $27.03 in afternoon trading. ...
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