Fewer Hollister and flagships location planned
Posted August 2, 2012
Abercrombie & Fitch (New Albany, Ohio) reports comparable-store sales dropped 10 percent overall for the second quarter ended July 28, 2012, Women’s Wear Daily reports. Sales in the U.S. declined 5 percent and international stores were down 26 percent.
Based on those weak numbers and a troubled European economy, the company says it’s putting the brakes on expansion. According to the WWD article, Abercrombie & Fitch plans to slow expansion by opening 30 Hollister stores, instead of the 40 previously expected, and putting commitments to new flagships on hold, except for one in Shanghai.