Abercrombie & Fitch (ANF) reported first quarter net income of $0.03 per share Wednesday morning, down sharply from $0.28 per share last year. The consensus estimate was for EPS of $0.02. The company maintained its 2012 EPS forecast of $3.50 to $3.75.
Abercrombie & Fitch gapped open lower Wednesday and fell sharply in early trade, before settling into a range. Shares finished down by 5.90 at $39.50, with volume at over a 3-month high. The stock has been declining for the last 2 weeks and dropped to a new low for the year.
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