Fashion Victim?
Has Abercrombie & Fitch lost it? The youth-oriented clothing retailer was a star growth stock in the late 1990s, but shares have plunged 50% in the last year as growth in same-store sales has slowed. The stock (ticker symbol: ANF) fell $5.13 to $18.63 on the NYSE on Tuesday after the company said fourth-quarter profit rose 27% to 73 cents a share, but same-store sales climbed just 3% from a year ago. Calling the stock a bargain, the company vowed to step up its share buyback plan.
Sources: Bloomberg News, company reports
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