Abercrombie & Fitch shares tumbled greater than 10% in premarket commerce Tuesday after the retailer reported an surprising loss in its fiscal first quarter, with freight and product prices weighing on gross sales.

Abercrombie additionally slashed its gross sales outlook for fiscal 2022, anticipating that financial headwinds will stay at the very least by means of the tip of the 12 months.

That is breaking information. Please verify again for updates.