Home / Knowledge / News / Apparel/Garments / Abercrombie & Fitch to close 180 US stores
Abercrombie & Fitch to close 180 US stores
28
Jun '12
Teen apparel retailer Abercrombie & Fitch Co. is planning to close 180 US outlets over the next few years. The retail chain has already shutdown 135 underperforming stores in the US over the past two years.
 
In the past, Abercrombie & Fitch performed well in the US, but the company has lately shifted its focus to Asia and Europe, where it continues to grow.
 
Speaking at the ninth Annual Deutsche Bank Global Consumer Conference in Paris, Abercrombie & Fitch’s Executive Vice President and Chief Financial Officer, Jonathan Ramsden, said the company will close 180 more outlets in the US during the next few years as a part of its effort to improve financial performance.
 
Mr. Ramsden said the closures will be more of A&F and kids brands, along with a smaller number of Hollister outlets.
 
In 2008 and 2009, Abercrombie & Fitch’s earnings declined due to weakness in the US, which accounted for 90 percent of its sales at that time. The company’s turnover, however, grew in 2010 and 2011 and the firm began expanding in other countries as well as online.
 
Last year, Abercrombie & Fitch generated around 65 percent of its revenue from US outlets and about 21 percent from other countries. However, the margins were lower in the US.
 
As on March 31, 2012, Abercrombie & Fitch operated a total of 1,049 stores, which included 279 A&F stores, 154 Abercrombie kids’ stores, 18 Gilly Hicks stores and 491 Hollister Co. stores in the US. It operated 107 outlets in other countries.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search