Abercrombie & Fitch (ANF) falls as gas prices pressure discretionary spending

Abercrombie & Fitch shares fell 6.9% on May 14, 2026, as investors weighed the risk that rising gasoline prices will squeeze household budgets and curb spending on discretionary apparel. Gas prices have climbed to their highest levels since 2022, adding pressure on lower- and middle-income consumers. University of Michigan consumer sentiment fell to 47.6 in April, the lowest reading in the survey’s 74-year history, underscoring stress on household finances. The move follows a 5.5% drop on May 7, 2026, tied to higher oil prices after renewed U.S.-Iran tensions. Apparel retailers also face higher freight and landed costs from Middle East shipping disruptions and tariffs. ANF is down 41.2% year to date, trading at $72.76, about 44% below its 52-week high of $129.85 set in January 2026.