American Eagle said it expects sales to decline 5% in its fiscal first quarter after it saw slow demand and steep discounting.

(Reuters) -American Eagle Outfitters on Tuesday withdrew its annual forecasts due to macroeconomic uncertainty and said it took a roughly $75 million inventory charge in the first quarter related to the write-down of its spring and summer merchandise.

American Eagle (AEO) stock is sinking after the company withdrew 2025 guidance, warned of an operating loss, and flagged steep discounting and excess inventory