Abercrombie & Fitch falls on weak annual sales forecast
ReutersMar 5, 2025 12:44 PM
Shares of Abercrombie & Fitch ANF.N down 6.7% at $89.71 before the bell
Company forecast annual sales growth below estimates as consumer spending on pricier apparel remains weak
Expects fiscal 2025 operating margin in the range of 14% to 15%, compared with 15% reported in 2024
ANF says the outlook for operating margin includes estimated impact from the tariffs announced in February 2025 on goods imported from China, Mexico and Canada into the United States
Company also announces board has authorized a new $1.3 billion stock repurchase program
In 2024, stock had risen about 69%
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