Abercrombie & Fitch Says Tariffs Will Cut Profits By $50 Million—Joining These Companies Warning Of Tariff Impacts
1. Abercrombie & Fitch lowered profit outlook due to tariffs impacting imports. 2. 30% tariff on China and 10% on others expected to hit profits by $50 million. 3. Macy's and Target also lowered financial projections, citing tariff impact and consumer spending. 4. Retailers face heightened competition and changing market conditions affecting guidance. 5. Economic uncertainty from tariffs is impacting multiple industries, not just retail.