Abercrombie warned of a challenging holiday season as it reported its 15th straight decline in quarterly sales, causing shares to tumble 15.5% in premarket trading Friday.
Third quarter sales fell 6.5% from last year to $821.73 million, missing Thomson Reuters I/B/E/S forecast for $830.6 million, and Q3 same-store sales fell 6%, missing a Wall Street forecast for a 3.9% decline.
The company’s Hollister brand fared better, with Q3 net sales falling 13% to $358.3 million at Abercrombie, but falling just 1% to $463.5 million at Hollister, compared to the year-ago period.
