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<p>November is turning out to be a rough month for <a href="http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=anf&tab=searchtabquotesdark">Abercrombie & Fitch</a> and its investors. The teen apparel retailer’s stock <a href="http://www.google.com/finance?q=NYSE:ANF">was thumped by over 15% Wednesday</a> after its disappointing Q3 earnings report.<sup> [<a href="#footnote_0_86271" id="identifier_0_86271" class="footnote-link footnote-identifier-link" title="Abercrombie reports Q3 earnings, Source: Abercrombie &amp; Fitch&#8217;s IR">1</a>]</sup> While a decline in gross margins by 3.6% was primarily responsible for the slump, concerns over Abercrombie’s slowing international business also contributed to the fall. Despite this, the company’s management confidently dismissed the concerns on its slowing international business as hype. Though we believe the decline in gross margins is a source of concern, the crash in ANF’s stock was a bit overdone in our view. Abercrombie & Fitch competes with other specialty retailers such as <a href="http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=aro&tab=searchtabquotesdark">Aeropostale</a>, <a href="http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=aeo&tab=searchtabquotesdark">American Eagle Outfitters</a> and <a href="http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=gps&tab=searchtabquotesdark">Gap Inc.</a> in the teen apparel space.</p>
<p><strong> </strong><strong><a href="../../company?hm=ANF.trefis&">Check out our complete analysis of Abercrombie & Fitch</a></strong></p> <p style="text-align: center;"><strong><span id="more-86271"></span></strong></p> <p style="text-align: left;"><strong>Gross margins still a concern<br /> </strong></p> <p style="text-align: left;">Decline in gross margins by over 3.5 points was the primary reason behind yesterday’s stock slump....