Abercrombie and Fitch closing flagship store in Dublin

business
Abercrombie And Fitch Closing Flagship Store In Dublin
The store has been a fixture on the Dublin high street since 2012.
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Abercrombie & Fitch is to permanently close its flagship store on College Green in Dublin.

The store, a fixture on the Dublin high street since 2012, has been closed since the implementation of Level 5 restrictions.

The permanent closure comes as the company has shuttered stores around the world in a bid to pivot towards online sales.

Numbers 34 and 35 College Green, the building home to the flagship store, is owned by Paddy McKillen's Clarendon Properties.

A spokesperson for Mr McKillen confirmed that the store’s lease is set to expire this month and will not be renewed by the US fashion retailer.

There are “a number of interested parties” regarding a new lease for the building, the spokesperson added.

Global store traffic

Earlier this week, Abercrombie & Fitch posted a five per cent fall in quarterly net sales, as global store traffic took a hit from consumers staying at home during the Covid-19 pandemic.

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Net sales fell to $1.12 billion (€939 million) from $1.18 billion a year earlier.

In a bid to rein in costs, the Ohio-based company reduced payroll expenses, suspended dividend and closed 137 stores last year, including eight larger format flagships.

It forecast first-quarter net sales above estimates after tightened costs and surging online sales of sweaters, fleece tops and knit bottoms helped it report a better-than-expected quarterly profit.

The teen- and millennial-focused retailer has partnered with TikTok influencers Charli and Dixie D’Amelio and ramped up investments in its online business.

“Our distribution centres remained operational, enabling us to fulfil digital customer demand globally, partially mitigating lost sales from temporary store closures,” said Chief Executive Officer Fran Horowitz.

— Additional reporting by Reuters.

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