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Abercrombie shares fall over 20% after retailer posts loss, offers weak outlook

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A person carries a bag from the Abercrombie & Fitch store on Fifth Avenue in New York City, February 27, 2017.
Andrew Kelly | Reuters

Abercrombie & Fitch shares tumbled more than 10% in premarket trade Tuesday after the retailer reported an unexpected loss in its fiscal first quarter, with freight and product costs weighing on sales.

Abercrombie also slashed its sales outlook for fiscal 2022, anticipating that economic headwinds will remain at least through the end of the year.

This is breaking news. Please check back for updates.

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