Thursday, March 8, 2018

Abercrombie & Fitch is closing 60 stores this year

Business Insider

Abercrombie & Fitch is bouncing back by cutting stores.

The teen retailer has struggled in recent years. In 2016, the company's operating income plummeted to $15.2 million — down from $72.8 million in 2015 — and closed 54 stores.

On Wednesday, the company was praised by analysts after it announced positive same-store sales growth in its fourth-quarter results. Same-store sales were up 9% overall at the company, boosted by 11% growth at Hollister and 5% at the Abercrombie brand itself.. . . more