By  on August 17, 2011

Abercrombie & Fitch Co.’s growing international business paid dividends in the second quarter, but the company said it would close 10 to 15 more U.S. stores than planned and warned gross margins were deteriorating. 

Despite a 64.4 percent gain in net income for the quarter, shares of Abercrombie fell 7.8 percent to $65.47 in midday trading as investors focused on the second half.

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