Apparel Online Bangladesh Magazine June Issue 2018 | Page 75

WORLD WRAP
J.Crew sales decreasing 8% and its
comparable sales decreasing 10%
following a decrease of 8% last year,
the J.Crew Group announced in March
that it plans to discontinue 20 of its
stores in 2018. However, the retailer
says it’s seeing results in its most
important business – women’s apparel,
with Madewell sales rising 23%.
Abercrombie & Fitch hasn’t finished
with shrinking its retail footprint,
though net sales increased 15% for
the last quarter of the financial year
and 5% for the year ending February
2018. The teen apparel company said it
plans to shut down about 60 stores in
an overall same-store sales increase of
5% for Gap Inc. In fact, Gap is making
a big bet on Old Navy, its discounted
apparel brand for shoppers who enjoy
browsing off-price retailers like T.J.
Maxx and Ross Stores in search of a
deal. This is in pursuit of the retailer’s
updated growth strategy announced
late last year, which called for roughly
200 Gap and Banana Republic stores
to close by 2020. The move is to shut
stores at old malls that are no longer
exciting customers, and move to
more open-air centres and street-
level retail where the customers are
happier shopping.
Abercrombie & Fitch to
introduce new concept
store in UK
Abercrombie & Fitch Co., the global retailer of casual luxury
apparels and accessories under the Abercrombie and Fitch,
Hollister and Abercrombie Kids labels, has announced to open
the first prototype and second full-price UK store.
The upcoming store, to be inaugurated in August this year,
will have innovative fitting rooms with thoughtful amenities
designed to enhance the customer’s mood. The store
spread over an area of 5,554 square feet will be located at
Manchester’s Intu Trafford Centre.
The retailer zeroed in on Intu Trafford Centre for its
second store and first prototype in the UK as it is located in
Manchester which is a young, vibrant and fashion-forward
city.
Separate controls for light and music, as well as a phone
charging dock, will also be there in the fitting rooms of the
upcoming store. A large group of friends and families can be
accommodated in the select fitting rooms act as they will work
as private suites.
The clothing brand has already opened seven prototype stores
since the