Pursuits
Abercrombie Falls After Sales Trail Analysts’ Estimate
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Abercrombie & Fitch Co., the operator of more than 800 teen-clothing stores, fell after posting first-quarter revenue that trailed analysts’ estimates and saying weakness in Europe will hurt same-store sales this year.
Abercrombie retreated 13 percent to $39.50 at the close in New York, the lowest closing price since Oct. 6, 2010. The New Albany, Ohio-based company, the second-worst performer in the Standard & Poor’s 500 Index today, had lost 7 percent this year through yesterday.