Abercrombie & Fitch Misses Second Quarter Forecasts

Shares of Abercrombie & Fitch were lower Tuesday after missing second quarter forecasts.
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Shares of Abercrombie & Fitch (ANF) - Get Report were lower Tuesday after missing second quarter forecasts. The teen retailer posted a loss of $0.25 a share, which was five cents wider than analysts' had expected. Revenue of $783.2 million also missed Wall Street's expectations. Comparable-store sales dropped seven percent at Abercrombie and fell two percent at Hollister for the period. CEO Arthur Martinez said in a statement that flagship and tourist locations continued to account for the vast majority of the comparable sales decline as traffic remained a 'significant headwind.'

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