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Abercrombie & Fitch closing 180 U.S. stores by 2015
New Albany, Ohio -- Abercrombie & Fitch CEO Mike Jeffries told analysts during a conference call Wednesday that the teen retailer would close 180 U.S. stores by 2015.
The chain will target underperforming locations for closure, and by shuttering them hopes to boost image and profits. Specific stores slated for closure have not yet been announced.
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Target and Starbucks team toward Canada expansion
Toronto -- Target Canada Co. and Starbucks Coffee Canada announced Wednesday an agreement that will put Starbucks licensed stores inside most of the 125 to 135 stores that Target plans to open in the region.
"Our goal is to bring the true Target brand shopping experience to our Canadian guests, so expanding our relationship with Starbucks as we enter the Canadian marketplace is a natural fit," said John Morioka, senior VP merchandising, Target Canada. There are currently 1,097 Starbucks locations within Target stores in the United States.