Abercrombie & Fitch and Hollister brands to focus on smaller stores
US fashion giant Ambercrombie & Fitch is accelerating its store closure programme worldwide in response to sluggish sales growth. Flagship stores in Copenhagen and Hong Kong have already closed with sites in New York, Milan and Fukuoka, Japan due to follow.
The company’s strategy is to pull out of large stores in high-rented shopping centres and to reopen smaller stores in cheaper locations, predominantly on the high street.
Chief executive Fran Horowitz said: “We are focused on our transformation initiatives, with global store network optimization a key priority. We continue to believe in stores and are committed to delivering intimate, omni-channel brand experiences that closely align with our customers’ needs.