Why American Eagle, Gap, and Crocs Dropped Today
A disastrous earnings report from retail clothier Abercrombie & Fitch (NYSE: ANF) reverberated across the retail industry Tuesday, pulling down shares of rival clothing chains such as American Eagle Outfitters (NYSE: AEO), Gap (NYSE: GPS), and Crocs (NASDAQ: CROX) as well.
Abercrombie suffered the greatest damage of the four, falling 28.8% today. But by the time the closing bell rang, American Eagle stock had lost 6.3%, Gap was down 8.4%, and Crocs got crushed 8.9%.
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Source Fool.com
