Abercrombie to close 180 US stores

[OhioChick]

Source: AP

June 21, 2012 5:29 PM ET

(AP) - Teen clothing seller Abercrombie & Fitch Co. plans to close 180 U.S. stores over the next few years as it tries to improve its financial performance.

Abercrombie used to generate most of its sales in the U.S. but has shifted its focus to overseas markets such as Europe and Asia, where it is still growing.

The chain has already closed 135 underperforming U.S. stores over the past two years.

Chief Financial Officer Jonathan Ramsden told investors Wednesday at the Deutsche Bank Global Consumer Conference in Paris that the company will close 180 more "over the next few years," according to documents the company filed Thursday with the U.S. Securities and Exchange Commission.

Read more: http://money.msn.com/business-news/article.aspx?feed=AP&date=20120621&id=15253240

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While I understand that many don't like A&F, this move will leave many without jobs in the US.

[ChromeFoundry]

1. Pricing keeps rising. Quality keeps dropping.

Maybe if they charged the current prices for items that would last more than 5 wash cycles...maybe then those stores would perform better.

It is sad that people will lose jobs, but they are ripping off their customers with low quality, Chinese manufactured shit. Some company needs to step up and make a quality product at a reasonable price, in the USA. But that is not going to happen because corporations only plan for next quarter's profits.

[arikara]

2. Precisely. Nearly everything is worse than junk.

Clothing is skin tight, see-through and basted together. Its ugly and it stinks. I tried on a shirt the other day and it smelled so bad with the chemicals or whatever they used on the fabric that I nearly barfed.

[joeglow3]

25. Ummmm, you realize all their stores are equipped with their cologne

Fierce is their trademark cologne and is sprayed throughout their stores through machines:

http://en.wikipedia.org/wiki/Fierce_(A%26F_fragrance)

[joeglow3]

26. I disagree completely

I am a 35 year old and feel creepy shopping their. However, many of their clothing options are extremely high quality. I bought 5 pairs of shorts and 4 or 5 dress shirts there and the material is so much nicer than anything I can find at most other stores. While the price is double, I guarantee they will last over twice as long as the dress shirts I bought elsewhere.

[ChromeFoundry]

32. Try a T-Shirt or Hoodie

The t-shirts are see-through and the hoodies ball up after a few washings or are very thin material. The zippers are of a lesser quality on the hoodies... have not looked at any of their winter jackets recently.

A&F used to have great quality. The stuff they are producing now is no where near the quality they had when they also had the Ruehl No.925 clothing line.

[joeglow3]

33. Yeah, those are pieces of shit

I agree with you there. I bought a bunch at the kid's store for my boys, but they were clearanced for $4-5 a shirt.

[wordpix]

39. this is the problem with the entire clothing industry, except for organic cotton and hemp

Most clothing is now see through, flimsy polyester, maybe combined with cotton or wool, maybe not. I like cotton, wool, silk, linen ---natural fibers. If you can find these nowadays, prices are through the roof. But I am not buying these polyester ugly thin things.

[high density]

3. Will these companies ever figure out...

that the US consumer needs a decent job (and the money it provides) to buy these expensive products that they are trying to sell us? They're all killing each other with their drive for max profits. None of these corporations want to pay any of us common folk a decent wage, but they all expect to suckle off of these same people in their drive for profits that grow perpetually to infinity.

[eggplant]

4. While job losses suck...

the number of jobs lost per store won't be that high. Most are part time with no benefits. There will probably be a hit at distribution centers, and corresponding HQ management. At least the job losses will be dispersed throughout the country, as opposed to a plant closing, which really hurts towns. I doubt there will be any real hit on property management jobs, since these are all located in malls (I assume), and one store closing shouldn't change much.

Additionally, the money that would have been spent in their stores will likely still be spent, just in their competitor's stores.

So if you're going to have job losses (and I'm not a big fan of that...), this is the way to have them.

[ChromeFoundry]

7. Unfortunate that many of the jobs are college students

trying to make student loan payments.

And that scenario affects everyone when they default on their loans.

[OhioChick]

11. Bingo!

I know of three kids now that are working at A&F trying to pay off their student loans. (One is a teacher who can't find a job)

[eggplant]

18. I didn't say it was a good thing...

...just that the same number of lost jobs from a single location is much worse, economically. It still completely sucks for those folks getting the axe.

[OhioChick]

36. I knew what you meant

No worries.

[Historic NY]

5. I remember when they didn't sell clothing...

[Atypical Liberal]

6. Who can afford clothes with fancy names on them?

[Art_from_Ark]

8. Not me, for sure

unless "Fruit of the Loom" is considered a fancy name

[NBachers]

14. I guess that's the "Laff of the Day" because I see myself in your comment

[joeglow3]

27. Go there when they have 50% of their redlines.

I have bought clothes there (and Abercrombie Kids) for much less than any other store (other than Wal Mart). Got my son a kick ass, strong winter coat for $21 (original price was around $150). Granted, I have never bought anything that was not clearanced (with the additional 50% off sale), but find those sales VERY nice.

[wordpix]

40. no one but occasionally you can get lucky buying off season

I got a thick cotton Ralph Lauren cardigan sweater for my mom's bday in April, when the weather was perfect for it but for some reason it was on sale for about $50. And I got a well made cotton knit turtleneck for me, also RL, for $12! Both of these were better made with better fabrics than the usual RL you can find nowadays and were more like his "old brand."

[Odin2005]

9. Good riddance. you can SMELL the store's perfume from the other end of the mall.

[onehandle]

17. And hear the thump of the music just as far. nt

[AngryOldDem]

30. No kidding.

I made the bad mistake of wandering in there one day at the mall, and I left not being able to hear well for damn near a half-hour. The noise literally drove me out. Hostile workplace enviroment for employees, IMO.

[mainer]

37. The music always drove me right out. It's a "keep out, non-teenagers" sound

The music is designed to drive away people who aren't their demographic.

[MightyOkie]

19. AAAAAAAAmen

[David__77]

41. Yes, just last night, I was subject to an olfactory attack.

One needn't even come near the place to smell it. I actually thought to myself that it would be very unhealthy for asthmatics who had jobs even in neighboring shops.

[CoffeeCat]

10. Their clothes were skimpy and inappropriate

I'm all for cute clothes, but so much of their stuff was too skimpy. Their shorts and skirts for young girls barely covered their butts. Forget about trying to find a decent swimsuit there. My daughter's are in 5th and 6th grade, and A&F was all the rage with this demographic.

Good riddance, I say. As my former economics professor used to say, "Dollars are votes.". Apparently A&F and their risqué clothes for tween and teens didn't fly.

[jmowreader]

12. Apparently...

everyone who wanted a Chinese-made t-shirt with "Abercrombie" written on the front of it, already has it.

[kestrel91316]

13. Overpriced, pretentious cr-p. And snooty staff.

Wealthy teens ought to be forced to wear jeans and tshirts like normal kids. It might teach them a little humility.

[jpbollma]

16. As someone who is a sucker for expensive clothing

I tend to either buy products that are unique and made here in the USA or designers from Europe. I don't need to support Chinese Communists and I don't need to waste my hard earned money on cheap cheap cheap crap like Abercrombie. If you do some digging you can find much better quality product. I agree with a previous poster, although these jobs are a temporary loss, their competitors will pick up the extra spending and most of these people will easily be rehired elsewhere.

[marble falls]

15. Not because of the economy, but because its 15 minutes and buzz is gone.

[MADem]

20. Good riddance to bad rubbish, then...

They're closing because they suck. Hopefully better stores will replace them.

[msongs]

21. so where will the pouty, sullen kids with bad attitudes buy their status clothes now lol nt

[may3rd]

22. Soon, Wal-Mart is where the parent$ will only be afford to send them

http://www.democraticunderground.com/1014149009

[LeftinOH]

23. A&F doesn't "do" clothing, they do marketing. I'll stick with Land's End. n/t

[riderinthestorm]

28. +1. nt

[Blue_Tires]

24. perhaps whatever chain replaces them will hire black employees

[shanti]

34. well...

my son is black, and he has worked for a&f on and off over the last 4 years.

[Blue_Tires]

35. just a dig at this older story:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=105x2020796

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x848110

[Neoma]

29. Good! I hate their stinky store.

[Benjamin Parish]

31. Must be 'The Situation's' fault.

lol.

[slackmaster]

38. I've never been in one of their stores

Or an FAO Schwartz.

[JI7]

42. is the problem also that these chains open way too many stores ?