Abercrombie & Fitch Co.’s stock fell 16% on Wednesday to its lowest levels since 2023, after the retailer issued a first-quarter profit warning due partly to higher inventory levels and slower sales over the winter.

Abercrombie & Fitch has seen blockbuster growth over the last two years but it's expecting that pace to moderate more than Wall Street expected in the year ahead. The company is forecasting fiscal 2025 sales to rise between 3% and 5%,

Shares of apparel retailer Abercrombie & Fitch ( ANF -11.70%) plunged on Wednesday after it reported financial results for the fourth quarter of 2024. As of noon ET, Abercrombie stock was down 14% for the day and down nearly 60% from its 52-week high.