Thursday, 02 February 2012 13:28

Abercrombie Store Closes At Summit Mall

Written by  cynthi
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Abercrombie & Fitch closes at Summit Mall. Abercrombie & Fitch closes at Summit Mall.

The teen retailer's windows are covered and the doors are shut for good.

Shoppers in search of a t-shirt featuring the Abercrombie label or distressed jeans, will have have to go elsewhere.

Summit Mall officials confirm the Abercrombie and Fitch store has moved out and to stay tuned for new retailers joining the mall's line-up.

Abercrombie & Fitch Co., a New Albany, Ohio-based company, saw its shares tumbled before the opening bell Thursday morning after the retailer announced its fourth-quarter earnings would disappoint.

Abercrombie Fitch says it was forced to slash prices thanks higher cotton prices and cited an increase in markdowns.

"Our sales for the quarter were below expectations in a highly promotional environment," Mike Jeffries said, chief executive officer and board chairman of Abercrombie & Fitch Co., in a company investors press release.

Related Coverage:

Abercrombie Fitch Shares Tumble On Weak Outlook

 

cynthi

cynthi

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