Kohl’s, Abercrombie & Fitch, Canada Goose downgraded with inflation expected to put fashion and retail under pressure in 2022

Kohl's, Abercrombie & Fitch, Canada Goose downgraded with inflation expected to put fashion and retail under pressure in 2022

UBS analysts see trouble ahead for the fashion and retail space in 2022 largely due to inflation, driving downgrades of Kohl’s Corp., Abercrombie & Fitch Inc. and Canada Goose Holdings Inc.

Kohl’s KSS, -1.67% was moved to sell from neutral and its price target cut to $38 from $66. Shares were down 1.6% in Friday trading.

Abercrombie & Fitch ANF, -3.26% was downgraded to neutral from buy and its price target cut to $37 from $68. Abercrombie & Fitch shares fell 3.8% on Friday.

And Canada Goose GOOS, -5.70% was also moved to neutral from buy with its price target reduced to $35 from $59. Shares sank 5.4% on Friday.

Read: Dick’s Sporting Goods’ updated outlook suggests sales jumped after Christmas

“We’re bearish on the group overall, mainly due to inflation,” UBS wrote in its softlines report with earnings expected to grow 1%…

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