Abercrombie & Fitch to close 180 stores by 2015
Is this the end of shirtless guys selling shirts?
Although flannel shirts, fashion scarves, and skinny jeans are all the rage with teens and hipsters across the nation, they aren't buying their threads at Abercrombie & Fitch. Mike Jeffries, CEO of the Ohio-based company, hopes to elevate profits in the coming years through closing 180 of its 1,014 U.S. stores by 2015. Last year, the store closed 71 of its U.S. locations.
Abercrombie & Fitch closing 110 stores by 2012
Although U.S. A&F shops aren't performing as well as expected, the retailer probably won't be going under anytime soon. Rather, they have been shifting their focus to European and Asian markets, opening seven flagship shops over the past couple years, while spreading a handful of their sister shop, Hollister, across nations like weeds.
"We see growing awareness and familiarity with our brands in China as a major opportunity," said Jeffries on a media conference call last week.
While the days of shopping amidst shirtless models selling shirts, blaring techno, and clouds of cologne may be waning, they may not be completely dead. There's no word yet on whether or not any locations in Minnesota will be affected.
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