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It would be an euphemism to say 2020 was a tumultuous period for the economy in general and for the world of retail specifically. It's like every day, a store we used to love is to close. Unfortunately, the room of blood continued this week with the news that one of America's most recognized global brands isClose his greatest stores around the world.Columbus Business firstreport thatAbercrombie & Fitch closes its four largest flagship stores by the end of January 20, 2021Although closures are planned before Covid's success. Read on to see what's forward for thatbelovedand for another update of purchases that crush, checkThis way chain may "imminent collapse".

The four stores that stop in a few weeks are in Düsseldorf, Germany; London, England; Munich, Germany; and Paris, France. Three other key shops - in Brussels, Belgium; Madrid, Spain; and Fukuoka, Japan-will also close when their respective rental agreements expire early in the new year. Closures are part of the previously announced global strategy of Abercrombie & Fitch, introduced in 2018, a representative of the company saidBetter life-And are not in response to the current economy or the coronavir pandemic.

Based in New Albany, Ohio, Abercrombie & Fitch's Smart, preppy clothes have proven popular worldwide, even after the fall of its height in the late 90s and early the 00. but the cost of maintaining these Physical premises proved a trail of the company. The stores reserved for this series of closures combine about 200,000 square feet of space-or 10% of the brick and mortar imprint of Abercrombie & Fitch. Cut off the company a gain of $ 8 million this quarter, according toColumbus Business Journal.

The movement leaves the company with eight flagship stores of similar size around the world and 850 small spaces. The company moves away from high-foot tourist areas to those with more local buyers,Who can engage with the brand in store and also online. "Repositioning on the markets is something we have spoken consistently because we negotiate with owners and ... continuing to reposition and stay in the markets and get closer to the customer"Francorowitz said in a statementColumbus Business Journal.

This week, Abercrombie & Fitchreported a decrease in sales of 5% At $ 819.6 million during its third quarter for the fiscal year, which ended on October 31. However, digital sales jumped 43% to $ 382 million, suggesting more than the brand may move online in the coming years.

"All these stores will be examined," Horowitz said. "Our stores in North America are entirely omnicannel and we launch this around the world."

Read on other clothing stores that hurt, and for more new news, discover whyThis legendary store has just announced its bankruptcy deposit.

AnotherBeloved '90s Store The victim fell on the many retail closures and restructuring in the middle of the pandemic is the Republic of Banana. Its parent company, Gap Inc., recently revealed that it would close the majority of its commercial locations in the coming years, which includes the closure of 130 stores from the Republic of Bananas in North America by 2023. Markonly 15% accounted for net sales of the company during the last fiscal year,Mark BreitbardThe World Gap President, said at a virtual meeting with investors in October.

"We shrink North American specialty stores and let's come out locations based on the mall," said Breitbard on the call. "What we do is the restructuring of the fleet, the transfer and the thrust more from the company to the part of the digital and growth (market) part in key categories." And for another favorite that will not survive the pandemic, checkThis long-standing brand closes all but 2 of its American stores.

H & M announced early October that, in the next year, the company will beShuttering 250 storesof its 5,000 global locations. The Company admitted that the decision was linked to the slowdown in retail and the transition to online purchases as a result of COVID. "More and more customers started doing online shopping during the pandemic," said the company.

"Although the challenges are far from over, we think the worst is behind us and we are well placed to get out of the stronger crisis"Helena Helmersson, CEO of H & M, stated in a statement. And for another emblematic store that met with its disappearance recently, discoverThis beloved department store has just announced that it closes all the places.

After seeing bush sales of nearly 30%, Francesca announced in mid-November that wouldClose 140 from its 560 brick and mortar shops. Although this leaves many companies from Francesca open, the company stated in a statement that the protection of bankruptcy is on the table if these figures do not improve. And for more detail news delivered directly to your inbox,Sign up for our daily newsletter.

In November, Tween Store's justice announced thatAll its stores would closing After his parent company, ASCNA Retail Group, Inc., sold the $ 90 million mark. While Ascena has announced projects for the brand to move to an online model earlier this year, the remaining chain stores will now make the beginning of 2021 as a result of the sale in Bluestar Alliance.

However, there is a hope of justice again, according to the CEO of Bluestar,Joseph Gabbay. "Justice is an important asset With years of coming growth, "said Gabbay in a statement." An icon of Tween culture, with its felt influence between fashion, lifestyle, pop culture, etc., we see the possibility of promoting the global brand and partnerships. "And for more urgent news that you need to know, checkThis brand of popular clothing farm 100 stores.