Abercrombie & Fitch expects bad 4Q

Abercrombie & Fitch expects 4Q to disappoint Shares slide by double digits to new annual low NEW ALBANY, Ohio — Shares of Abercrombie & Fitch tumbled 11 percent to a 52-week low in early trading Thursday after the retailer said that its fourth-quarter adjusted earnings and revenue will likely disappoint Wall Street. The company, based in New Albany, Ohio, cited higher markdowns and increased cotton costs. Abercrombie & Fitch said that was forced to slash prices to get consumers into its stores in a highly competitive market. The company anticipates fourth-quarter adjusted earnings of about $1.10 to $1.15 per