Abercrombie & Fitch posts wider loss as discounts dent margins

Thu May 29, 2014 7:40am EDT

May 29 (Reuters) - Teen apparel retailer Abercrombie & Fitch Co reported a bigger loss for the first quarter as heavy discounts hurt margins.

The company's loss widened to $23.7 million, or 32 cents per share, in the quarter ended May 3 from $7.2 million, or 9 cents per share, a year earlier.

Excluding items, Abercrombie posted a loss of 17 cents per share.

Sales fell 2 percent to $822.4 million. Comparable store sales declined 4 percent, the ninth straight quarterly decline. (Reporting by Maria Ajit Thomas in Bangalore; Editing by Savio D'Souza)