Popular Clothing Store Chain Closing 60 Stores
A popular clothing store will be closing 60 stores later this year.
According to CNBC, clothing retailer Abercrombie & Fitch announced the move Wednesday to close 60 of its stores in an effort to reconfigure their store fleet at malls due to the rise in online shopping. The company closed about 40 stores last year and around 50 in 2016. The company is doing rather well actually, with shares climbing more than 30 percent so far this year. It just seems like everything is going the way of online shopping. "We continue to improve the customer experience with ongoing investments in loyalty programs, stores, direct-to-consumer and omnichannel capabilities," said CEO Fran Horowitz. There is no word yet on which store locations will be closing. The company has stores at Crossgate Mall in Guilderland and at the Poughkeepsie Galleria.
Do you shop at the Abercrombie & Fitch stores in the area? Will you be upset if the area locations are on the list of stores to close?