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Teen apparel retailer to unveil new store prototype
It’s no secret that Abercrombie & Fitch has been developing a new prototype. The chain will unveil its new look early next year, at Polaris Fashion Place, in Columbus, Ohio. The store will herald a new direction for the brand with a new aesthetic and updated merchandise selections. It will be situated on the lower level near Madewell. Abercrombie has already introduced a new look for its Hollister store brand.
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Abercrombie shrinks loss but still disappoints
Cost cuts helped Abercrombie & Fitch Co. put a sizable dent in its net loss during first quarter 2016, but the teen apparel retailer reported lower than expected sales and earnings as store traffic declined, particularly overseas.
Abercrombie reported a net loss of $39.6 million, down from $63.2 million in the year-ago period, Expense reduction efforts and the realization of savings on lower sales drove the loss reduction.
Net sales dropped 3% to $685.5 million from about $707 million, missing Wall Street projections.
