Abercrombie & Fitch tumbles after J.P.Morgan downgrades to 'neutral'

Abercrombie & Fitch

06/10/2025 15:40

** Shares of apparel retailer Abercrombie & Fitch ANF.N down as much as 7.8% at $77.88 - lowest since June

** J.P.Morgan downgrades stock to "neutral" from "overweight," citing slow revenue growth and margin pressures

** Brokerage sees ANF's performance as weaker than expected, especially in September, despite strong start in August due to promotional denim events

** Our fieldwork points to a "hangover" effect relative to outsized promotional and clearance activity taken in first half of fiscal 2025, which is constraining improved customer conversion rates and regular-price selling, brokerage says

** Seven of 13 brokerages rate stock "buy" or higher, six "hold"; their median PT is $112.50 - data compiled by LSEG

** Up to last close, ANF stock down nearly 43% YTD

 (Reporting by Anshi Sancheti in Bengaluru)

 ((Anshi.Sancheti@thomsonreuters.com))