Teen retailer Abercrombie & Fitch said
Friday it plans to close 40 to 50 of its U.S. stores this year as the company’s
shares took a nosedive following lukewarm sales over the holiday shopping
season, a crucial time for retail chains.
Comparable store sales at Abercrombie’s U.S.
stores fell 1 per cent in the fourth quarter, furthering previous declines in
the company’s selling power.
