NEW YORK (TheStreet) -- Abercrombie & Fitch (ANF) - Get Report stock is retreating 16.35% to $20.98 on heavy trading volume Thursday afternoon after the teen apparel retailer delivered a wider-than-expected loss and disappointing revenue for the fiscal 2016 first quarter.
Before today's market open, the New Albany, OH-based company reported a GAAP net loss of 59 cents per share for the quarter ended April 30, missing estimates that called for a loss of 51 cents per share. The company did not report non-GAAP financial measures for this quarter.
Revenue dropped 3% year over year to $685.48 million, falling short of estimates of $710.26 million.
Comparable store sales dropped 4%, driven by an 8% decline at Abercrombie locations, which was partially offset by flat comparable sales at Hollister locations.
Comparable store sales will continue to be challenged in the fiscal second quarter, but could improve in the second half of the year, the company said in a statement.
TheStreet's chartist Bruce Kamich questioned whether the retailer could "get its edge back" in this analysis on Real Money.
So far today, 17.54 million shares of Abercrombie & Fitch have exchanged hands, more than seven times its average daily volume of 2.47 million shares.
Separately, Abercrombie & Fitch has a "hold" rating and a letter grade of C+ at TheStreet Ratings because of the company's increase in net income, largely solid financial position with reasonable debt levels by most measures and expanding profit margins, which offsets disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: ANF
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.