Abercrombie & Fitch Says It Will Close 60 Stores in 2018

Jack Phillips
By Jack Phillips
March 28, 2018US News
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Abercrombie & Fitch Says It Will Close 60 Stores in 2018
(Urizzato via Creative Commons Attribution-Share Alike 3.0 Unported)

Abercrombie & Fitch, the clothing retailer, announced it will close 60 stores in 2018 across the United States. That includes closures of its Hollister stores.

Over the past two years, the teen-centric clothing retailer has closed about 90 of its stores, according to the Times-Union. And since 2010, 400 of its stores have been closed, Business Insider reported.

The news of its announcement to close more stores comes after the company reported positive sales growth in its fourth-quarter results, Business Insider reported.

“The physical store still serves an important role for a customer journey from a brand experience,” CFO Joanne Crevoiserat said.

“We continue to improve the customer experience with ongoing investments in loyalty programs, stores, direct-to-consumer and omnichannel capabilities,” CEO Fran Horowitz said Wednesday, CNBC reported.

The firm has not yet confirmed what locations will be closing.

“The [teen apparel] group as a whole, and Abercrombie in particular, has tightened up their inventory, pricing and store/mobile experience,” Retail Metrics founder Ken Perkins said to CNBC. “Zumiez and American Eagle have generated positive comp increases … with Abercrombie’s Hollister joining the party about a year ago.”

Less mall traffic remains a concern to those companies, he said. “Things have definitely improved from this time last year,” Perkins said, however.

From The Epoch Times

 

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