10 Firms Drop on Bearish Statements, Disappointing Earnings

2. Abercrombie & Fitch Co. (ANF)

Abercrombie (ANF) fell by 15.66 percent on Monday to end the day at $135.72 after the company’s recent earnings performance came in short of last year’s blockbuster growth.

On Monday, Abercrombie revised its sales forecast for the fourth quarter of 2024 to 7-8%, an increase from the 5-7% range previously, but still below the double-digit growth experienced in the same period in 2023.

In addition, it raised its full-year net sales growth outlook to around 15% from the previous range of 14-15%. The operating margin outlook for both the fourth quarter and full year remains at around 16% and 15%, respectively.

The revised forecast aligns with a broader trend among retailers which have also reported lower-than-expected holiday season demand.

Abercrombie is a leading global specialty retailer of apparel and accessories. It owns brands Abercrombie & Fitch, YPB, abercrombie kids, Hollister, and Gilly Hicks.