News

Abercrombie & Fitch shuttering stores in consolidation effort

March 21, 2017

Clothing retailer Abercrombie & Fitch plan to close 60 stores this year in a brand revamp and operations consolidation. The closings are described as "natural lease expirations," in a press release detailing the company's latest financials.

The retailer, which operates more than 700 stores across the country, plans to open six full-price stores this year, including four in the U.S. and two in international markets, and two new outlet stores, according to the press release.

"While the environment is likely to remain challenging in 2017, we have a strong balance sheet and continue to aggressively manage costs in order to continue our investments in strategies to provide our customers with compelling new experiences through a clearly defined brand voice, to position our business for sustainable growth," CEO Fran Horowitz, said in the release.