Abercrombie's The Next Retailer To Shutter Stores As Sales Fall
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Abercrombie & Fitch announced plans to shutter 60 U.S. stores after experiencing Q4 sales losses.
The firm said same-store sales dropped 5% in Q4 and net sales retreated 7%, yet omnichannel sales grew to account for 31% of the company’s net sales, up from 28% a year ago. Abercrombie said it will close stores as leases expire, and it plans to replace the 60 stores lost with six full-price stores, four of which will be in the U.S., Retail Dive reports.