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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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Nordstrom Q4 profit up 1.7%, to open 15 stores in 2012
Seattle -- Nordstrom reported Thursday that net earnings for the quarter ended Jan. 28 rose 1.7% to $236 million, compared with $232 million in the year-ago period.
Sales rose 12.5 % to $3.17 billion, and same-store sales increased 7.1%. Nordstrom Rack sales rose 17.7% in the quarter, to $85 million.
For the full year, total net sales were $10.5 billion, representing the highest in the company’s history. Net earnings were up 11.4% to $683 million, compared with $613 million a year earlier.