Abercrombie & Fitch Is Set To Close 40 Stores This Year
Here’s a name we haven’t heard in a while.
The mega popular 2000s brand, A&F Co. has just announced today that they’re planning on closing up to 40 stores this year.
There has been no word on if these closures will creep their way into Canada, but a representative from A&F Co. has confirmed that the majority of store closures will happen in the U.S. In addition, the store closures will span across three banners: Abercrombie & Fitch, Hollister Co., and abercrombie kids.
The retail landscape is proving to be tricky to navigate with all the closures happening right now. From Home Outfitters to Victoria’s Secret and even Gap, 2019 has definitely had a rocky retail start.
Over the past 8 years, the brand has closed 475 locations but fear not, A&F will still live on the internet for any online shoppers who can’t do without their polo shirts. In fact, online sales for Abercrombie & Fitch have sky rocketed to $1 billion in annual digital sales with a majority coming from mobile.
Like most retail chains that have been around for a while, A&F embarked on a major brand revamp on their retail and product strategies. This turnaround helps navigate how the brand will compete with fast fashion and the ever growing online market. Based on the company’s 2019 outlook, they plan on creating 85 new store experiences, including opening 40 new stores, so in the end, the net store count evens out.
Editor’s note: This article has been updated to include more information from A&F Co. representatives.
Featured Image: Flickr
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