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.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"