Abercrombie & Fitch reported a net loss of $26.8m (£17.52m) in its first quarter to May 2 as like-for-like sales dived 30 per cent across the group.

Sales at Ruehl shops plummeted 34 per cent on a like-for-like basis and the fashion retailer has now begun a strategic review of that part of its business, which comprises 29 stores.

Chief operating officer Mike Jeffries has also abandoned his past strategy to avoid discounting. US press reported that he will now look at “meaningful reductions” in prices at its Hollister and Abercrombie Kids stores to try to encourage sales.

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