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.

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.

Investors are grappling with the potential seismic shift in the retail landscape. After two years of robust growth at Abercrombie & Fitch (ANF), shares plunged on Wednesday after the company posted weaker-than-expected 2025 guidance partially due to tariffs' impact on freight costs and consumer spending.