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The Boston Globe

Business

Abercrombie & Fitch jumps on news of share repurchases

Abercrombie & Fitch Co., the operator of more than 800 teen clothing stores, plans to substantially accelerate its share buybacks, the New York Post reported. The Ohio company had dropped 33 percent this year through Tuesday, the eighth-worst performance in the S&P 500. The retailer, which got 20 percent of its sales from Europe in the year ended Jan. 28, has seen sales slow as the debt crisis roils Europe.