American Eagle on Tuesday said it is writing off $75 million in spring and summer merchandise and withdrawing its full-year guidance as it contends with slow sales, steep discounting and an uncertain economy.

American Eagle cited macro uncertainty as it pulled it 2025 financial guidance as it reviews future plans. Schottenstein said American Eagle is in a better position for the second quarter, with inventory more aligned to sales trends.

(Reuters) -American Eagle Outfitters on Tuesday withdrew its annual forecasts due to macroeconomic uncertainty and said it took a roughly $75 million inventory charge in the first quarter related to the write-down of its spring and summer merchandise.