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Abercrombie’s profit sinks as fashions evolve

By Washington Examiner
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NEW ALBANY, Ohio (AP) — Abercrombie & Fitch Co. is struggling to sell its preppy jeans and T-shirts at a time when fashion trends are shifting and a rough economy has left teens around the world on tighter budgets.

The New Albany, Ohio-based company said Wednesday that its profit plunged by more than half in the second quarter as a key sales figure fell 10 percent. In the U.S., the figure fell for the first time since 2009.

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