BUZZ-American Eagle Outfitters sinks after pulling annual outlook

Reuters

05-14

BUZZ-American Eagle Outfitters sinks after pulling annual outlook

** Apparel company American Eagle Outfitters AEO.N dips 14.78% to $10.84 in premarket trading

** Co withdrew its annual forecasts on Tuesday and took a $75 million inventory charge on its spring and summer collection due to economic uncertainty fueled by tariffs

** Jefferies cuts PT on the stock to $11 from $13

** Two out of 12 brokerages rate the stock "buy", nine "hold" and one "sell"; their median PT is $12 - data compiled by LSEG

** Up to last close, stock had fallen ~24% YTD

(Reporting by Joel Jose in Bengaluru)

((joeljose@thomsonreuters.com))

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