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