Abercrombie & Fitch Co. (ANF) announced Friday morning that third quarter net sales decreased 12% to $911.4 million, from $1.033 billion last year. Total comparable sales decreased 10%. The company expects to report non-GAAP EPS of $0.40 to $0.42. Analysts are expecting EPS of $0.67.
Abercrombie & Fitch gapped open sharply lower Friday and gradually declined during the second half of the session. Shares finished with a loss of 5.88 at $29.50 on the highest volume of the year. The stock sank to a new low for the year.
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