Losses widen at Abercrombie & Fitch

TEEN CLOTHING retailer Abercrombie & Fitch yesterday reported a bigger loss for the first quarter as heavy discounts hurt margins. The company’s loss widened to $23.7m, or 32 cents per share, in the quarter ended 3 May, from $7.2m, or nine cents per share, a year earlier. Comparable store sales declined four per cent, the ninth straight quarterly decline.

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