Dhaka, May 14 -- Shares of American Eagle Outfitters fell sharply before the opening bell on Wednesday after the retailer withdrew its financial outlook for 2025, citing "macro uncertainty," and announced $75 million write-down in spring and summer merchandise.

The Pittsburgh-based apparel retailer said late Tuesday that it expects first-quarter revenue to decline by five per cent, dropping below $1 billion. Same-store sales-a key indicator of retail performance-are projected to decrease by approximately three per cent, reports AP.

The company anticipates an adjusted operating loss of about $68 million for the first quarter, driven by the inventory write-down and increased promotional spending.

"Our merchandising strategies did not dri...