Abercrombie & Fitch, the clothing retailer, announced it will close 60 stores in 2018 across the United States. That includes closures of its Hollister stores.
“The physical store still serves an important role for a customer journey from a brand experience,” CFO Joanne Crevoiserat said.
The firm has not yet confirmed what locations will be closing.
“The [teen apparel] group as a whole, and Abercrombie in particular, has tightened up their inventory, pricing and store/mobile experience,” Retail Metrics founder Ken Perkins said to CNBC. “Zumiez and American Eagle have generated positive comp increases ... with Abercrombie’s Hollister joining the party about a year ago.”
Less mall traffic remains a concern to those companies, he said. “Things have definitely improved from this time last year,” Perkins said, however.