Abercrombie & Fitch tanks 23% on weak same-store sales, says 3 big flagship stores to close
Publishing timestamp: 2019-05-29 12:52:38
Summary
Abercrombie & Fitch reported a narrower-than-expected net loss in the first quarter, but same-store sales growth fell short of expectations. The apparel retailer also announced the closure of three flagship stores, leading to a significant drop in its stock price. The company's second-quarter outlook was disappointing, causing further concern among analysts and investors.
Sentiment: NEGATIVE
Keywords: business, american eagle outfitters inc, business news, apparel retail, breaking news: earnings, abercrombie & fitch co, breaking news: major, breaking news: business, earnings, retail industry,