Abercrombie books loss, plans review of Ruehl unit

[May 15, 2009]  NEW YORK (AP) -- Teen retailer Abercrombie & Fitch says it booked a loss in its fiscal first quarter and is beginning a strategic review of its Ruehl business, which is aimed at an older demographic.

Abercrombie & Fitch Co. lost $26.8 million, or 31 cents per share, during the period that ended May 2. That compares with a profit of $62.1 million, or 69 cents per share, a year ago. The New Albany, Ohio-based company is also in the process of determining an additional impairment charge related to Ruehl that will be added to the results.

Net sales tumbled 24 percent to $612.1 million.

The results missed Wall Street's expectations. Analysts polled by Thomson Reuters forecast a loss of 14 cents per share on revenue of $616.5 million.

[Associated Press]

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