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Abercrombie & Fitch Stock Had Its Worst Day Ever. Blame Disappointing Earnings and Higher Costs.

·2 min read
Abercrombie & Fitch Stock Had Its Worst Day Ever. Blame Disappointing Earnings and Higher Costs.
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Abercrombie & Fitch stock fell sharply Tuesday after the retailer widely missed Wall Street earnings expectations and lowered its full-year outlook. The stock (ticker: ANF) dropped 29% to $19.09, its biggest one-day percent drop on record, according to Dow Jones Market Data. Abercrombie’s gross profit margin—gross profit as a percentage of net sales—came in at 55.3%, down 810 basis points from the year-earlier quarter.