Abercrombie & Fitch Same-store Sales Plummet; Outlook Weak

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Abercrombie & Fitch Same-store Sales Plummet; Outlook Weak

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Abercrombie & Fitch Same-store Sales Plummet; Outlook Weak

by Wochit 0:50 mins

Abercrombie & Fitch Same-store Sales Plummet; Outlook Weak

by Wochit 0:50 mins

Abercrombie & Fitch Co reported comparable sales and profit far below Wall Street expectations, blaming a drop in store visits by shoppers, and the teen retailer said business would decline even more during the current back-to-school quarter. The U.S. Federal Reserve may need to drain up to $2 trillion from the financial system when it decides to normalize short-term interest rates The number of Americans filing new claims for jobless benefits held near a six-year low last week and U.S. manufacturing activity hit a five-month high this month, suggesting the economy is starting to find firmer footing.

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