** Brokerage TD Cowen says it is cautious on specialty retailers due to pickier consumers and potential for higher tariffs
** TD Cowen cuts PT on American Eagle Outfitters AEO.N to $20 from $23; cites sequential reduction in sales during Q3 and tougher comparables in Q4 owing to stronger sales a year ago
** Retail traffic slowed in September and October as consumers delayed spending until after the U.S. presidential election in early November, says TD Cowen analyst Jonna Kim
** Brokerage warns of potential tariffs on China imports by President-elect Donald Trump, noting an exposure between ~10% to 20% to China for AEO, Gap GAP.N, and Victoria's Secret VSCO.N
** Says Bath and Body Works BBWI.N "best positioned" if tariffs are implemented as it makes 85% of its products in the U.S.
** AEO set to report Q3 results on Dec. 4 and Gap to report on Nov. 21
** YTD, AEO down 12.85%, VSCO up 38.21%, GAP up 2.92% and BBWI down 26.92%
(Reporting by Aamir Sohail in Bengaluru)
((Aamir.Sohail@thomsonreuters.com;))
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