Abercrombie & Fitch Inc., which on Thursday reported the weakest August same-store sales performance among a pack of weak specialty stores, on Friday saw its shares drop sharply following a downgrade by Citigroup to “sell” from “buy.”
Following the morning downgrade, shares hit a new 52-week low of $47.83 before reclaiming some lost ground to finish the New York Stock Exchange session at $48.61, down $2.38 or 4.7 percent. After declining in early trading, the Standard & Poor’s Retail Index ended the day up 0.6 percent at 403.78. The Dow Jones Industrial Average ended the week at 11,220.96, which was 0.3 percent ahead of Thursday’s close.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
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