Abercrombie & Fitch to Close 60 US Stores

Abercrombie & Fitch recently announced plans to close 60 US locations in 2017.

Net sales for the once popular clothing line have fallen 9 percent overall in 2016 and 13 percent in the last quarter alone. A&F's chief executive officer Fran Horowitz says even though the brand's numbers aren't what they'd hoped, there's still hope.

"Hollister, our largest brand, achieved positive comp sales and the Abercrombie brand renewal continues, although it is a work in progress," Horowitz said in a statement. "While overall results did not meet  expectations, 2016 was a year of significant progress on each of our strategic priorities."

Horowitz says plans are in place to re-brand the entire look and feel of the clothing store.

Photo: Getty Images

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