Why Abercrombie & Fitch Stock Is Plunging Today

Abercrombie & Fitch Co ANF shares are trading lower Tuesday after the company reported financial results and issued weak guidance.

Abercrombie & Fitch said first-quarter revenue increased 4% year-over-year to $813 million, which beat the estimate of $799.31 million, according to data from Benzinga Pro. The company reported a quarterly loss of 27 cents per share, which was well below estimates for earnings of 8 cents per share.

"Looking forward, we expect higher costs to remain a headwind through at least year-end," said Fran Horowitz, CEO of Abercrombie & Fitch.

Abercrombie & Fitch expects second-quarter revenue to down low-single-digits year-over-year. Full-year revenue is expected to be flat to up 2% year-over-year.

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ANF Price Action: Abercrombie & Fitch shares are making new 52-week lows on Tuesday.

The stock was down 30.7% at $18.50 at time of publication.

Photo: Phillip Pessar from Flickr.