Abercrombie dives most since 2000 as sales growth starts to wane
The results further underscore how 2019 is shaping up to be a challenging year for US retailers
29 May 2019 - 23:09
New York — For apparel retailers, the plot has to unfold just right for investors to buy into the narrative. And by the market’s reaction on Wednesday, they clearly did not stick to the script.
A trio of companies posted historic stock declines on Wednesday: Abercrombie & Fitch, Canada Goose Holdings and Michael Kors owner Capri Holdings, together erasing about $2.7bn in market capitalisation. For Abercrombie, weakening sales cast doubt on the company’s affirmation that it’s in the midst of a sustained rebound...
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