Abercrombie & Fitch Unveils 2019 Store Transformation Plan: 85 New Experiences, Up to 40 Closures
Abercrombie & Fitch Co. has announced a significant store transformation plan for 2019. The retailer aims to open and remodel stores, delivering 85 new experiences, while also closing up to 40 underperforming locations. This follows a trend of store closures across the retail industry, with over 5,500 U.S. stores shutting down in 2018 and a similar number expected in 2019.
Abercrombie & Fitch's store portfolio renewal involves strategic expansion into major U.S. cities like New York, Los Angeles, Chicago, and Miami. The company aims to focus on better mall locations, with most of its existing stores now profitable. This plan comes after the retailer fell short of its 2018 store closure target, closing only 29 stores out of the planned 60.
Other retailers are also streamlining their physical presence. Gap Inc. plans to close 230 stores, with no new mall-based Gap stores on the horizon. Chico's will close 250 stores over the next three years. Dollar Tree is set to shut down 390 Family Dollar stores in 2019, while Shopko is closing at least 250 locations.
The retail landscape continues to evolve, with Abercrombie & Fitch leading the way in store transformations. The company's focus on better locations and new experiences aims to strengthen its position in the market, despite the broader trend of store closures.
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