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By Tomi Kilgore, MarketWatch
Eric Beder, an analyst at Wunderlich Securities, said he is "throwing in the towel" on teen-apparel retailers after Abercrombie & Fitch--the one he had actually liked--announced highly-disappointing sales results.
Abercrombie & Fitch shares (ANF) slumped about 6% in midday trade Friday, after BMO Capital Markets downgraded the stock to market perform from outperform and said the pace of the teen retailer's recovery has been slower than expected.
Abercrombie & Fitch's stock (ANF) plunged 14% in premarket trade Friday, after the apparel retailer reported disappointing fiscal third-quarter sales, and provided profit outlook that was well below analyst projections.
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