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Frederick’s of Hollywood shareholders OK going private
Hollywood, Calif. - Frederick's of Hollywood Group Inc. shareholders approved, at a special meeting of shareholders held May 28, the previously disclosed merger agreement that provides for the acquisition of the company. The merger was approved by more two-thirds of the aggregate voting power of the company's common stock.
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Abercrombie’s loss widens, but results still top expectations
New Albany, Ohio – Abercrombie & Fitch Co. reported a net loss of $23.7 million in the first quarter of fiscal 2014, up from $7.2 million in the year-ago period, but less than analysts had expected. Restructuring charges associated with the closure of Abercrombie’s Gilly Hicks stand-alone stores, as well as the impact of heavy discounting on profit margins, helped drive the retailer’s net loss growth. The chain backed its full-year forecast as demand in its female business improved and sales fell less than expected for the first time in six quarters.