, 3 tweets, 1 min read Read on Twitter
$ANF closing 3 flagship locations, including Hollister NYC SoHo location. Taking $45MM charge on SoHo store and Fukuoka, Japan A&F flagship store. Exercised kickout clause on flagship store in Milan. More #highstreet retail pain coming.
2/ $ANF says flagship stores are a drag on profitability and expects to close more of the 15 remaining flagship stores as part of a move to smaller format "omni-channel focused brand experiences." "Year by year we expect to pick these off one by one"
3/ $ANF has 'rightsized' 30 stores (presumably core mall stores), reducing footprint by 30% while keeping sales flat. More stealth pressure on mall occupancy.
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