Abercrombie Closing 40 Stores

Abercrombie & Fitch (New Albany, Ohio) will be closing up to 40 stores during its 2019 fiscal year. 

The company now plans to shift its focus on opening about the same number of new stores but with a smaller square footage; it will be debuting 85 new store experiences.

The news comes as the company reported a decline in same-store sales of 2 percent for the brand.

While it has not detailed which locations will be affected, many of them are located in the U.S., according to Business Insider.