Abercrombie shares fall the most in 3 years as slow sales weigh on results
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New York
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.
The loss in the second quarter was 25 US cents a share, excluding some items, the New Albany, Ohio-based company said on Tuesday. Analysts projected a loss of 20 US cents, on average. The company also announced plans to close more stores, extending a push that has shrunk the chain's US store base by a third in the past six years.
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