Abercrombie expanding to Saudi Arabia, Qatar, Bahrain and Oman as international footprint grows

09/05/2016
While Abercrombie & Fitch Co.’s store count shrinks here, it's seeing store growth abroad.
The New Albany-based based retailer announced a franchise agreement Monday with Dubai-based Majid Al Futtaim Fashion that will bring its brands to Saudi Arabia, Qatar, Bahrain and Oman.

The two companies already work together on eight Abercrombie-owned stores in Kuwait and United Arab Emirates.
The franchise deal will bring the Abercrombie & Fitch, Hollister and Abercrombie kids brands to those new countries starting in 2017.
It is just the second franchise deal for the retailer, which runs 178 international stores in 20 countries. Mexico-based Grupo AXO opened the first Abercrombie & Fitch in that country last year.
Majid Al Futtaim operates 135 stores for Lululemon, Athletica, Juicy Couture and other brands in seven markets through the Middle East and North Africa and plans to double its portfolio in the next five years, according to the release.
Abercrombie (NYES:ANF) has 754 stores in the U.S., a figure that has declined in recent years as the company cuts underperforming shops. In a slump for years, A&F is believed to be turning a corner as comparable store sales have steadily improved. The next update will come May 26 when the company reports its first quarter results.
Comparable store sales in the international shops dropped 1 percent for 2015. Net sales for the segment fell 7 percent to $1.23 billion. International sales accounted for 35 percent of the $3.51 billion retailer’s revenue in 2015.

Fonte:http://www.bizjournals.com/columbus/news/2016/05/09/abercrombie-expanding-to-saudi-arabia-qatar.html

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