Markets

Abercrombie & Fitch reports sharp drop in sales

/ AP

NEW YORK - Abercrombie & Fitch (ANF) is still having trouble getting teens to buy its clothing.

Sales fell more than expected in September and October as fewer people headed to the mall and shoppers shunned clothing with the retailer's logo on it. It also reported weaker sales at its European stores, especially at its Hollister brand.

Abercrombie's stock fell 12 percent in early trading.

Revenue fell 12 percent to $911.4 million in the quarter ending Nov. 1. That's below the $982.4 million analysts expected, according to FactSet.

It expects adjusted third-quarter earnings of between 40 cents per share and 42 cents per share before unusual items. Analysts expected 68 cents per share.

The New Albany, Ohio-based retailer has been trying to win customers back by removing logos from its clothing and closing some stores.

First published on November 7, 2014 / 9:50 AM EST

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