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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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Cabela’s Q4 profit up, to debut new store concept for smaller markets
Sidney, Neb. -- Cabela’s Inc. reported Thursday a fourth-quarter net income of $69.8 million, compared with $66.3 million last year. The company also announced plans to open a smaller-sized format, called Cabela’s Outpost Store, designed for markets with less than 250,000 people.
For the quarter ended Dec. 31, 2011, Cabela’s revenue, increased 5.4% to $983.7 million, and same-store sales rose 1.7%. Retail store revenue increased 9.8% to $525.6 million.