Abercrombie 2Q Sales See 6% Decline


Teen apparel retailer Abercrombie & Fitch Co's quarterly sales fell 6 percent as customers cut back on discretionary spending amid wage cuts and fewer jobs.

The company's shares were down 8 percent in premarket trading on Thursday.

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The company said net income rose to $12.9 million, or 17 cents per share, in the second quarter ended Aug. 2, from $11.4 million, or 14 cents per share, a year earlier.

Revenue was $890.6 million. Same-store sales fell 7 percent in the quarter, with U.S. same-store sales down 5 percent.