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Shares of Abercrombie & Fitch Co. on Thursday hit their lowest price in more than two years.

The apparel retailer cut its second-quarter outlook and an analyst downgraded the stock.

The company said same-store sales fell 7 percent in July, hurt by results at its Hollister and Ruehl stores. 

“Abercrombie & Fitch’s July (same-store sales) miss and subsequent earnings-per-share guide down leads us to believe that back to school is not off to a good start,” Buckingham Research Group analyst Barbara Wyckoff wrote. 


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