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The Woes Continue at Abercrombie

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The teen apparel retailer Abercrombie & Fitch Co. (NYSE:ANF) reported a drop of 14 percent in same store sales for the third quarter. The retailer was also soar on the upcoming holiday shopping season, predicting another decline in same store sales for fourth quarter. If true, it would be the eighth consecutive quarter of a reported drop in same store sales. Excess inventory is also putting a downward pressure on gross profit with the retailer offer huge discounts. As a result, the full-year earnings outlook was cut. It has not been a great year for teen retailers! In addition, compared to other teen retailer Abercrombie is on the expense side.