The following video is from Thursday's Investor Beat, in which host Erin Kennedy along with Motley Fool analysts Jason Moser and David Hanson investigate the hardest-hitting investing stories of the day.

Abercrombie & Fitch (NYSE:ANF) shares were absolutely pummeled today after the company reported second-quarter earnings this morning. In the earnings release, CEO Mike Jeffries said, "The second quarter was more difficult than expected due to weaker traffic and continued softness in the female business, consistent with what others have reported." In today's lead story on Investor Beat, Jason and David examine A&F's poor quarter, and whether this sector is mostly a wash -- or if there could be some diamonds in the rough.