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Abercrombie Plunges on High Volume

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June 04, 2009 |Comments: 0
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ANF

Shares of Abercrombie & Fitch Co. (ANF) plunged more than 12% on heavy volume of 9.8 million shares. The daily average volume is around 4.9 million.

The company reported a 28% fall in same-store sales for May.

In its fiscal first quarter, this Zacks #4 Rank ("Sell") company lost 31 cents per share, which was wider than the consensus' loss estimate by 18 cents, or more than 138%.

The average forecast for the current year has declined to $1.09 per share from $1.59 in the past month, as 23 analysts out of 26 reduced expectations.

Read the full analyst report on ANF

 
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