Abercrombie Plunges After Tourism Pullback Weighs on Results

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  • Retailer announces plans to close as many as 60 U.S. stores
  • Chain expects sales to remain ‘challenging’ for rest of year

Morning Meeting: Strength of U.S. Consumer

Abercrombie & Fitch Co. tumbled the most in three years after slow sales at flagship locations weighed on its latest results and outlook, sparking concerns that its turnaround is sputtering.

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