Abercrombie & Fitch posts quarterly loss as sales slump
Nov 21 (Reuters) - Abercrombie & Fitch Co reported a quarterly loss, with comparable-store sales declining for the seventh straight quarter as the teen apparel retailer struggles with the changing tastes of young shoppers.
A&F reported a net loss of $15.6 million, or 20 cents per share, for the third quarter ended Nov. 2 compared with net income of $84.0 million, or $1.02 per share, a year earlier.
Excluding items, the company earned 52 cents per share.
Net sales fell 12 percent to $1.03 billion. Total comparable sales, including online sales, fell 14 percent.
The company announced the comparable store sales figures earlier this month.
A&F shares were down 2 percent at $34.25 in premarket trading. (Reporting by Aditi Shrivastava in Bangalore; Editing by Joyjeet Das)
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