Abercrombie share price slumps

Shares in fashion retailer Abercrombie & Fitch plunged by a fifth yesterday after it said its sales outside the US were weaker than expected in the past quarter. It met expectations for its overall third-quarter sales with seven per cent growth in stores open for more than a year, as US shoppers continued to buy. But investors took fright as it said the growth was “more than offset by a slowing trend in Europe” including at its flagship stores.