Abercrombie & Fitch's Stock Suffers Both Worst Day And Lowest Close In 17 Years

By Tomi Kilgore Markets MarketWatch Pulse

Shares of Abercrombie & Fitch Co. closed below the $10 mark for the first time in 17 years, after the apparel retailer said it preferred to go it alone than to seek a buyer for the troubled company. The stock, which plummeted 21.2%, also suffered the biggest one-day percentage selloff since Nov. 30, 2000. Volume ballooned to 27.6 million shares, compared with the full-day average over the past three months of 2.9 million shares, according to FactSet. The last time the stock closed below $10 was June 15, 2000. The stock's selloff was the highlight of a dreary day for retailers. The stock has now lost half its value over the past year, while the SPDR S&P Retail ETF has dropped 10.6% and the S&P 500 has gained 14.0%.

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