Abercrombie Falls After Profit Trails Analysts’ Estimates

Abercrombie & Fitch Co. plunged the most in more than 21 months after forecasting profit for the current quarter that was less than analysts estimated amid declining traffic at its stores.

The shares slid 18 percent to $38.53 at the close in New York, for the biggest one-day drop since Nov. 3, 2011. Third-quarter profit will be as much as 45 cents a share, the company said today in a statement, while declining to forecast earnings beyond then. Analysts estimated $1.07, on average.