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The Kids Aren’t All Right, and Neither Is Abercrombie & Fitch

An Abercrombie & Fitch store in Wayne, N.J.
An Abercrombie & Fitch store in Wayne, N.J.Photograph by Robert Wright/The New York Times via Redux

Kids these days—they’re so poor and pessimistic!

That was the message this morning of a horrendous financial update from Abercrombie & Fitch. Same-store sales at the teen apparel giant, including Web commerce, slid 10 percent, and profit fell by one-third, to $11.4 million. Results were particularly bleak in the U.S., where revenue declined 8 percent; overseas sales actually rose 15 percent.