Updates
** Shares of Abercrombie & Fitch ANF.N fall as much as 20.3% to $128.30 in early trade
** Company maintains its operating margin outlook for the full-year, despite raising net sales forecasts, owing to heavier discounts taken during the holiday period to lift sales
** Expects full-year 2024 net sales of about 15%, compared with analysts' estimates of 15.2% growth, according to data compiled by LSEG
** Apparel makers American Eagle Outfitters AEO.N, apparel retailer Urban Outfitters and discount store operator Five Below FIVE.O, which gained premarket, have reversed course in the broader market to decline around 4% to 5% on expectations of scaled-back Fed rate cuts in 2025
** Shares of Lululemon LULU.O flat following premarket gains after Q4 sales, profit forecast raise
** Shares of Macy's M.N down as much as 7% after projecting Q4 net sales at lower end of prior forecast
** ANF and URBN rose ~70% and ~54% in 2024, while FIVE, AEO, LULU and M fell 51%, 21%, 25% and 16%, respectively
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
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