Abercrombie & Fitch to Close 60 U.S. Stores This Year

Abercrombie & Fitch plans to close 60 stores in the U.S. this year, mainly through lease expirations, while expanding its international presence with 24 store openings in countries including Canada, the U.K., Japan and Denmark. The retailer operates a total of nearly 1,100 stores under four different banners.

A&F posted a profit in the second quarter, earning $19.5 million in net income for the period ending July 31, up from a loss of $26.7 million during the same period last year. Comp store sales increased 5% during the same period, compared to a 30% drop during Q2 of 2009.

In the U.S., the 60 store closings will be offset by planned openings of three Abercrombie & Fitch stores, three Abercrombie Kids stores, three surf-themed Hollister stores, two Gilly Hicks stores and five outlet stores.

A&F plans to open namesake stores in Copenhagen, Denmark; Fukuoka, Japan; and Canada, as well as its first international Gilly Hicks store in the U.K. and 20 international mall-based Hollister stores.