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Abercrombie to close up to 50 US stores

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Cincinnatus:
Abercrombie & Fitch said it would close 40 to 50 stores in the US this year as the youth fashion retailer’s shares tumbled following weak sales in the crucial Christmas quarter.

Like-for-like sales fell 1 per cent at Abercrombie & Fitch’s US stores in the three months to February 2, extending previous declines in an intensely competitive sector where its rivals include American Eagle, Aéropostale and Forever 21.

The report goes on to state, The Ohio-based retailer, known for its thumping in-store music and scantily clad male door staff, is also known for its highly sexually suggestive advertising, so I am sorry for those who will be losing their jobs, but good riddance.
http://www.ft.com/intl/cms/s/0/8028d9f6-7d07-11e2-8bd7-00144feabdc0.html#axzz2LkJ2I2il

truth_seeker:
It seems there is an oversupply of chic suppliers of too expensive designer jeans, with fashionable pre-sale tears and fades.

Atomic Cow:

--- Quote from: truth_seeker on February 23, 2013, 07:09:07 pm ---It seems there is an oversupply of chic suppliers of too expensive designer jeans, with fashionable pre-sale tears and fades.
--- End quote ---

Pretty much.  Our local mall has about 30-40 of these kinds of stores down from 50 in the past 18 months.  Everything is geared toward the 18-22 year old crowd.

Oceander:

--- Quote from: truth_seeker on February 23, 2013, 07:09:07 pm ---It seems there is an oversupply of chic suppliers of too expensive designer jeans, with fashionable pre-sale tears and fades.



--- End quote ---

Because there is now substantially less discretionary income than there used to be.

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