Abercrombie & Fitch deepens retail gloom with tepid forecast, shares drop – ET Retail
Abercrombie & Fitch joined other U.S. retailers in forecasting weak annual sales growth and warned of softer demand heading into spring for its namesake brand, sending its shares down 14 per cent on Wednesday. The apparel maker said margins would take a hit from higher freight costs and more promotions at the start of the…