Clothing retailer Abercrombie & Fitch Co. (NYSE:ANF) early Friday posted disappointing third quarter earnings results, hurt by a massive drop in sales at established stores.
The New Albany, Ohio-based company reported Q3 adjusted net income of $0.02 per share, which was a full 22 cents worse than the $0.24 profit expected by analysts. Revenues fell 6.5% from last year to $821.7 million, also badly missing Wall Street’s view of $832.48 million.