Abercrombie & Fitch, the clothing retailer, had its stock tank 29% today. This happened after the company had an unexpected loss for the fiscal first quarter, and transportation and product costs also affected the sales. The company also lowered its sales expectations for the year. This move sent two apparel retailers down 6% and 8%. Many retailers have been taking hits to their profits, due to inflation. The shares closed 29% down at $19.09, and that’s their largest percentage decrease on record.
