Business
Abercrombie & Fitch CEO says it has a playbook to deal with closures as Covid threatens to shutter stores – CNBC
Abercrombie & Fitch is facing another round of temporary store closures due to the coronavirus pandemic, threatening its holiday performance.
The possibility that Abercrombie & Fitch will face additional rounds of temporary store closures due to rising Covid-19 cases sent the retailer’s shares down Tuesday, despite it reporting an earnings beat, as investors feared the shutdowns could threaten Abercrombie’s key holiday shopping season.
Abercrombie is now calling for sales in the fourth quarter to fall 5% to 10%, which would be a steeper decline than in its latest period.
Shares were down about 3% in late-morning trading.
CEO Fran Horowitz…
