Why Abercrombie & Fitch Stock Dropped 30.8% in March
Shares of Abercrombie & Fitch (NYSE: ANF) fell 30.8% in March and are now down 53.4% year to date. The brick-and-mortar retailer was not immune to the broad market sell-off of most retailers' stocks, as a result of the disruption and uncertainty caused by the novel COVID-19 coronavirus pandemic.
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Retailers have been hit hard during the pandemic, as governments order nonessential businesses to stop physical operations. Abercrombie & Fitch will continue to keep its stores outside the Asia-Pacific region closed until further notice.
Source Fool.com
