Abercrombie & Fitch stock falls

Abercrombie & Fitch plunged the most in more than 21 months after forecasting profit for the current quarter that was less than analysts estimated amid declining traffic at its stores.

The company, whose most profitable store globally is based in Dublin, saw its shares slide 17% in New York and earlier fell as much as 21% for the biggest intraday drop since Nov 3, 2011.

Third-quarter profit will be as much as 45c a share, the company said yesterday in a statement, while declining to forecast earnings beyond then. Analysts estimated $1.07, on average.