(Reuters) – Abercrombie & Fitch Co trimmed its full-year sales forecast on Tuesday as record-high inflation hits demand for the retailer’s jeans, tops and dresses, sending its shares down 18% in premarket trade.

Now, the company expects net sales will rise 2% or less in fiscal 2022 than its previous forecast of growth between 2% and 4.4%. According to Refinitiv IBES data, analysts expect that sales will rise by 3.5% to $3.84 trillion.