Moody Eye View

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 Ohio-based retailer, known for its thumping in-store music and scantily clad  male door staff, said direct sales to US consumers, which include its ecommerce  unit, rose 5 per cent, although they remain a small part of its business.

Abercrombie and Fitch trying to stay alive..

Tags: A&F, Barry Gibbs, Bee Gees, metrosexual, Saturday Night Fever, staying alive

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