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Abercrombie May Cut US Stores

NEW ALBANY, OH-Namesake stores most likely to be trimmed during expiring lease review.

By Debra Hazel | Updated on August 16, 2009

NEW ALBANY, OH-With more than 270 leases up for renewal through 2011, Abercrombie & Fitch Co. may cut back some of its stores, most probably in its namesake brand, executives said at the company’s second quarter conference call.

Now a mature business in the United States with the exception of Gilly Hicks, the company will take the rest of the year to review the number of stores in each of its brands, said Jonathan Ramsden, executive VP and CFO.

“We don’t have a specific number at this point,” Ramsden said. “If there is a contraction, it will likely be more toward the A&F brand than the other brands.” There are no future opportunities for flagships in the United States, Jeffries added.

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