NEW YORK (TheStreet) -- Shares of Abercrombie & Fitch (ANF) - Get Report were tumbling 11.29% to $20.36 in pre-market trading on Tuesday after posting a bigger-than-expected loss for the 2016 second quarter.
Before today's market open, the New Albany, OH-based retailer reported an adjusted loss of 25 cents per share, wider than analysts' estimates of a loss of 20 cents a share.
Revenue declined 4% year-over-year to $783.2 million but topped analysts' projections of 782.7 million.
Same-store sales fell 4% as traffic remained a "significant headwind" at flagship and tourist locations, Executive Chairman Arthur Martinez said in a statement. Analysts had anticipated a 4.2% decline, according to the Wall Street Journal.
By brand, same-store sales fell 2% at Hollister and dropped 7% at Abercrombie.
Martinez added that the company expects flagship and tourist locations will continue to weigh on the business for the remainder of the year.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Abercrombie & Fitch's strengths such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations are countered by the fact that the company's return on equity has been disappointing.
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.