Abercrombie & Fitch Co. ANF 0.06% continued its post-earnings slide on Thursday morning, falling another 1.6 percent. The stock is now down 24.1 percent after reporting a loss of $0.25 per share on revenue of $783.1 million, well short of consensus estimates of -$0.02 and $787.7 million.
The weak quarter prompted several firms to downgrade the stock or reduce price targets:
- Stifel downgraded Abercrombie to Hold.
- UBS lowered its price target from $22 to $18.
- KeyBanc lowered its price target from $27 to $25.
- Citigroup cut its price target from $23 to $20.
Abercrombie is certainly not the only teen retailer that is struggling to compete these days. Wet Seal, American Apparel, Pacific Sunwear and Aeropostale Inc AROPQ 2.44% have all declared bankruptcy in the past year.
Shares of New York & Company, Inc. NWY 2.16%, Buckle Inc BKE 0.86% and Express, Inc. EXPR 2.64% are all down in 2016.
The lone exception to the trend is American Eagle Outfitters AEO 0.76%, which delivered positive year-over-year Q2 sales and earnings growth numbers that topped Wall Street expectations. The stock is…
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