CHICAGO/BANGALORE, Aug 1 (Reuters) – Teen clothing retailer
Abercrombie & Fitch Co estimated quarterly profit at
about half what analysts expected after sales in stores open at
least a year fell 10 percent.
Abercrombie shares fell almost 15 percent to $29 in
after-hours trading on Wednesday.
Stop tweeting #MLB deadline trades! I am waiting to see the deals on tape delay tonight #NBCfail
By Brad Dorfman
(Reuters) – Best Buy Co Inc (BBY.N: Quote, Profile, Research, Stock Buzz) plans to cut about 2,400 jobs, including 600 of its Geek Squad employees, as management tries to turn around the struggling electronics retailer, a spokesman for the company confirmed on Friday.
The cuts represent 1.4 percent of the company’s 167,000 workforce and come on top of jobs associated with 50 store closings the company announced in March, the spokesman, Bruce Hight, said.