Abercrombie & Fitch to Close Stores

Abercrombie & Fitch Co. (New Albany, Ohio) posted a second-quarter profit while announcing it would shutter 110 stores over the next year and a half. The company says most of the closings are natural lease expirations, with 60 domestic stores expected to close in 2010 and 50 more the following year.

On the international front, the teen retailer has adjusted its expansion plans, dropping the number of Hollister store openings from 25 to 20 mall-based locations.

For the second quarter, Abercrombie & Fitch sales grew 17 percent to $745.8 million from $637.2 million. Including direct sales, international revenue jumped 85 percent to $133.2 million, while domestic sales increased at a more moderate 8 percent. Same-store sales rose 5 percent, led by an 8 percent comp jump at A&F stores. The company’s kids and Hollister chains posted same-store increases of 3 percent and 2 percent, respectively.

The company operates 1098 doors, including 345 A&F stores, 206 children’s stores, 530 Hollister stores and 17 Gilly Hicks stores.