Telsey Advisory analyst Dana Telsey reiterated an Outperform rating on the shares of Abercrombie & Fitch Co (NYSE:ANF) but lowered the price target from $190.00 to $125.00, citing greater macro uncertainty.

Abercrombie & Fitch joined other U.S. retailers in forecasting weak annual sales growth and warned of softer demand heading into spring for its namesake brand, sending its shares down 14% on Wednesday.

(Reuters) -Abercrombie & Fitch on Wednesday forecast annual sales growth below estimates as consumer spending on pricier apparel remains weak, taking its shares down about 8% in premarket trading. Consumer spending has been weak through February due to sticky inflation and uncertainty around the impact of U.S. President Donald Trump's tariffs.