Abercrombie & Fitch same-store sales fall 10 percent
Aug 22 (Reuters) - Abercrombie & Fitch Co said on Thursday that quarterly comparable sales fell a worse-than-expected 10 percent, which the company blamed on fewer visits by shoppers to stores and customers' lack of interest in its women's clothing.
Shares of the teen clothing retailer were down 15.4 percent in premarket trading.
For the second quarter ended Aug. 3, the company said net income fell to $11.4 million, or 14 cents per share, from $17.1 million, or 20 cents per share, a year earlier.
Abercrombie expects a profit of 40 cents to 45 cents a share for the current quarter. The company said it would not give projections beyond that, citing uncertainty around recent traffic trends.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target holiday cyber breach hits 40 million payment cards |
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion |
- Special Report: Why Ukraine spurned the EU and embraced Russia