Abercrombie Falls After Holiday-Inventory Delays Hurt Results
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Abercrombie & Fitch Co. fell as much as 18% on Wednesday after supply-chain woes in the crucial holiday quarter drove a disappointing earnings report.
The apparel maker said its adjusted earnings per share were $1.14, below the $1.27 average estimate among analysts surveyed by Bloomberg. Gross margin for the quarter, which ended Jan. 29, was 58.3%, slightly ahead of the estimate of 58.2% among analysts but down from a year earlier.