Tuesday, November 22, 2016

Abercrombie weighing store closures as turnaround stalls

About half of Abercrombie & Fitch’s 745 U.S. store leases are up for renewal over the next 18 months, presenting an opportunity to shutter stores without leaving too much money on the table, the struggling teen apparel retailer's CFO Joanne Crevoiserat told analysts Friday.

Abercrombie expects to close approximately 50 U.S. stores through natural lease expirations, Crevoiserat said, and in other cases the company may renegotiate rents as an alternative to outright closure. . . . more

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