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Reuters
Published
Aug 14, 2009
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Abercrombie posts quarterly loss on dismal sales

By
Reuters
Published
Aug 14, 2009

BANGALORE (Reuters) - Abercrombie & Fitch Co (ANF.N) reported a quarterly loss versus a year-earlier profit as sliding sales pummeled the teen retailer.

The company recorded a net loss of $26.7 million, or 30 cents a share, in the second quarter ended August 1, compared with a net profit of $77.8 million, or 87 cents a share, a year earlier.



As recently as a year ago, Abercrombie was the most popular clothing store in the mall among teens and college-age students, but as the downturn deepened, rivals with cheaper prices such as Aeropostale (ARO.N) to Forever 21 cut into market share.

Revenue fell 23 percent to $648.5 million.

Shares fell 5 cents to $32.96 in premarket trading.

(Reporting by Dhanya Skariachan in Bangalore; Editing by Derek Caney)

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