Abercrombie Falls After Sales Trail Estimates

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Nov. 5 (Bloomberg) -- Abercrombie & Fitch fell as much as 15 percent in late trading after posting third-quarter sales that trailed analysts’ estimates as teens restrained spending on clothing. Julie Hyman reports on Bloomberg Television's "Street Smart." (Source: Bloomberg)

They have been experiencing decreasing comparable sales from a basically losing their cachet as the place to shop.

Comparable sales down 14% in the last quarter.

This is in the calendar third quarter.

They said that they're going to be closing all of their gilly hicks stores.

Eight stores internationally.

Mike jeffries, the ceo of the company saying to continue topline.

Overall spending among younger consumers is remaining week.

We are continuing to take a cautious approach.

The company has been doing some restructuring and strategizing figuring out how to cut costs.

They came out with a forecast of the full-year earnings per share of a dollar $.30 to $1.50. one final note i want to mention is that they had been scheduled to do an analyst day presentation.

That is still scheduled and presumably we will get some more commentary on details.

What they plan to do to try to turn around these declining same-store sales.

I will be covering the comments that are made by executives at that meeting.

Turning to another retail story, where there is a will, there is a way.

This text has been automatically generated. It may not be 100% accurate.


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