Abercrombie & Fitch closing up to 60 stores nationally

http://www.wrcbtv.com/story/32899948/abercrombie-fitch-closing-up-to-60-stores-nationally

Abercrombie & Fitch Co. reported a wider loss for its second quarter on Tuesday and said it's closing up to 60 stores in the United States as both U.S. and international sales fell.
The teen-focused retailer also offered a downbeat outlook for a key sales measure, as business continues to be hurt by a decline in tourists to its flagships in key cities. The closures will represent about 8 percent of its store count in the domestic market. Abercrombie's shares tumbled more than 20 percent in midday trading.
Abercrombie, once a top destination for teens, has struggled to adjust as its customers increasingly shop on their phones and other mobile devices, and shift more to fast-fashion chains like H&M. The retailer is changing its marketing to play down its sexy image, and last year got rid of provocative pictures on its shopping bags and bare-chested male models greeting customers at the door. It also gave employees more freedom to dress how they wish, ditching its "look policy" that banned eyeliner and certain hairstyles among other rules.