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 fell more than 30% Tuesday after the retailer reported an unexpected loss for 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. The news sent shares of apparel retailer American Eagle Outfitters down 10%, and Urban Outfitters down about 7%.
Abercrombie now sees revenue to be flat to up 2%, compared with its earlier forecast of 2% to 4% growth. Analysts were…