Home / Knowledge / News / Apparel/Garments / Abercrombie & Fitch to expand internationally
Abercrombie & Fitch to expand internationally
09
Mar '16
Courtesy: Abercrombie & Fitch
Courtesy: Abercrombie & Fitch
Abercrombie & Fitch, a multi specialty retailer based in the US, plans to open 10 full price stores in the international market, with a focus on China, in fiscal 2016 as a part of its expansion plan, according to a statement released by the company.

The retailer expects capital expenditure in the range of $150 million to $175 million in FY16, out of which approximately $70 million will be for new stores and store updates, according to the fiscal 2016 outlook of Abercrombie & Fitch.

It plans to close approximately 60 stores in the US in fiscal 2016 because of natural lease expiration, along with adding five full-price stores in the country in the year ahead.

Commenting on the outlook for 2016, Arthur Martinez, executive chairman of Abercrombie & Fitch said, “As we look ahead to 2016, it is likely to remain a challenging environment, but we believe we are on the right track.”

“We will continue to focus on delivering a customer-centric shopping experience and compelling assortments based on clearly defined brand positions,” he added.

During FY15, the company opened 30 new stores, including 15 international full price stores, 6 US full price stores and 9 US outlet stores.  The company also closed 59 stores, primarily in the US.

By geography, net sales decreased 2 per cent to $745.9 million in the US and increased 3 per cent to $367 million internationally in the fourth quarter of fiscal 2015.

At the end of the fourth quarter of fiscal 2015, the retailer reported 754 stores in total in the US and 178 stores across Canada, Europe, Asia and the Middle East. (MCJ)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Myanmar's garment units risk closure due to virus impact

Myanmar's garment factories are facing the risk of shutdown as the...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

GMAC urges EU to restore full EBA rights for Cambodia

Expressing disappointment over the recent European Union (EU)...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Uzbekistan 3rd biggest garment exporter to Kazakhstan

Uzbekistan exported 10,000 tonnes of apparel to Kazakhstan in 2019,...

Interviews View All

Footwear industry, Head honchos

Footwear industry
Head honchos

Personalised and differentiated footwear is in high demand

Cindy McNaull, Cordura

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Top executives, Textile industry, India

Top executives
Textile industry, India

The event should be organised every year

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Fiorella Cattelan,

Fiorella Cattelan

With flexibility and versatility, Dettin strives to meet the specific...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

Leave your Comments


February 2020

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


Advanced Search