Abercrombie & Fitch's store entrance gates in Paris (Getty)
Columbia, SC (WLTX) -- Retailer Abercrombie & Fitch plans to shutter 180 under performing U. S. stores in the next three years.
The closures come as part of a strategy to focus on more affluent markets in the U.S. and overseas. Once complete, Abercrombie will have closed more than 300 locations since it started closing stores over the last two years.
Chief financial officer Jonathan Ramsden has not specified which stores shall be closed, instead the closures will be based upon store performance. Typically the Ambercrombie Kids and Abercrombie & Fitch stores have been closed over the Hollister brand stores.
Reports say nearly all of the stores to be closed are in the U.S., while Abercrombie will continue to focus on opening "highly profitable stores in Europe and Asia," A&F CEO Mike Jeffries says.
Currently A&F has 1024 stores world-wide across all three of their brands: Abercrombie Kids has 159, Abercrombie & Fitch with 294, and the Hollister brand, at 571 stores.