Clothing company Abercrombie & Fitch has plans to close up to 40 stores in 2019, after the brand dropped by 2% in the fourth quarter but was up 1% overall in 2018.
The company has not released which stores will be closing, but a majority will be located in the U.S. The decision stems from the brands thought that closing these 40 stores will open new opportunities to expand their other stores and focus on delivering new experiences.
This news is prefaced by the closure of over 300 stores from brands like Gap, JCPenney and Victoria’s Secret.
The company’s reputation continues to climb, as Business Insider reports that, “Recent data put together by market-research firm YouGov showed that a set of surveyed US adults over 18 had a better impression of Abercrombie & Fitch now than they did back in 2016.”
CEO Fran Horowitz has been leading the brand makeover since 2017, and at the New York Stock Exchange in 2017 she said, “We are not the Abercrombie & Fitch that you once knew.”
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