Abercrombie & Fitch Co.
Closing: 60 stores
Announcement made: March 2nd
More information: The teen market that once carried Abercrombie & Fitch on its shoulders has shifted to mobile purchases and the fashion styles of Forever 21 and H&M. After trying to reach its teen crowd through less provocative advertising, and a lax dress code, Abercrombie & Fitch still shows flagging sales, says Fox Business.
Moving forward the natural way: Abercrombie & Fitch Co. stated they will shut locations “through natural lease expirations.”
The company also stated about half of Abercrombie & Fitch’s 745 U.S. store leases are up for renewal over the next 18 months. These expired leases will save money.
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