Tuesday, August 30, 2016

Abercrombie & Fitch no longer expects results to improve this year

Image result for abercrombie & fitchTeen apparel retailer Abercrombie & Fitch posted a bigger-than-expected loss for the second quarter as efforts to win back shoppers through store remodeling and other measures failed to boost sales and are not expected to do so for the rest of the year.

Abercrombie's sales dropped for the 14th straight quarter and comparable sales fell a slightly steeper-than-expected 4 percent, mainly due to lower traffic, including from tourists, at its flagship stores.. . . more

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