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American Eagle Withdraws Annual Targets, Writes Down Spring, Summer Inventory

Following the forecast withdrawal, shares of the apparel maker slumped 10 percent in extended trade.
American Eagle 0utfitters store front
American Eagle is now “actively evaluating its forward plans.” (Shutterstock)

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.

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