Why Abercrombie & Fitch Co. Stock Plunged 20.9% in July

Shares of Abercrombie & Fitch Co. (NYSE: ANF) declined 20.9% in the month of July, according to data provided by S&P Global Market Intelligence, after the clothing retailer announced it has terminated discussions regarding a potential sale of the business.

Abercrombie shares popped in May after the company revealed it had received "expressions of interest" from several prospective acquirers. The company then commenced early discussions on the topic with those suitors with the caveat that there was no guarantee they would result in a transaction.

On July 10, 2017, however, Abercrombie executive board chairman Arthur Martinez insisted that the company believes the best way to create shareholder value is through the "rigorous execution of our business plan."

Source: Fool.com