01:10 PM EST, 03/05/2025 (MT Newswires) -- Shares of Abercrombie & Fitch ( ANF ) plunged intraday Wednesday after the apparel retailer guided for a slowdown in sales growth in fiscal 2025, while its first-quarter earnings outlook fell short of Wall Street estimates.

The company sees 2025 sales rising 3% to 5%, slowing from the 16% annual growth pace reported for the just-concluded year.

"Our outlook includes US tariffs on China, Canada, and Mexico currently in effect," Chief Financial Officer Robert Ball told analysts on a conference call, according to a FactSet transcript. "We expect a 2025 impact of around $5 million."

Abercrombie's stock tumbled nearly 12% in midday trade.

US President Donald Trump's recently announced 25% tariffs against Canada and Mexico went into effect Tuesday, while the US government doubled its levy on Chinese imports. Canada and China announced counter measures.

Earnings per share are expected to range between $10.40 and $11.40 in 2025 versus the Street's $11.30 view.

For the ongoing quarter, the company projects EPS in the $1.25-to-$1.45 range versus the Street's view for $1.89. The company's sales growth outlook is for 4% to 6% in the first quarter.

Its fourth-quarter sales rose 9% to $1.58 billion, topping the analysts' $1.57 billion estimate. Adjusted EPS advanced to $3.57 from $2.97 and was ahead of the $3.54 analyst view.

Comparable sales grew 14% for the three-month period ended Feb. 1. By region, net sales increased 11% in the Americas and 2% in Europe, the Middle East and Africa. They fell 4% in Asia-Pacific. By brand, Hollister sales jumped 16%, while Abercrombie posted a 2% gain.

"Across the business, we saw low single-digit (average unit retail) growth and mid-single-digit unit growth on increased traffic, net of the impact of the 53rd week," Ball said on the call.

The company's board approved a new $1.3 billion stock repurchase plan, replacing its prior program authorized in 2021.

Price: 84.49, Change: -11.63, Percent Change: -12.10