August 29, 2019 / 11:40 AM / 17 days ago

CORRECTED-Abercrombie & Fitch cuts full-year margin forecast on tariff impact, shares fall (Aug. 29)

(Corrects to say company cut ‘full-year gross margin forecast’, not ‘sales’ on potential tariff impact in headline, paragraph 1)

Aug 29 (Reuters) - Abercrombie & Fitch Co cut its full-year gross margin forecast on Thursday, accounting for the potential impact of increased U.S. tariffs on Chinese imports, sending its shares down 12%.

The company said it now expects annual sales to be flat to up 2%, down from a previous range of up 2% to 4%. (Reporting by Aditi Sebastian in Bengaluru; Editing by Anil D’Silva)

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