Abercrombie & Fitch will close as many as 40 stores this year, the company said in its earnings report Wednesday.
The teen clothing retailer, which has Abercrombie & Fitch and Hollister locations at the Walden Galleria, has not yet released a list of stores slated for closure. The closings could include some Hollister or Abercrombie Kids locations.
The company also said it will open 40 new stores in its smaller-footprint format over time.
Despite seeing back-to-back growth for four quarters last year, sales at stores open more than a year dropped 2 percent last quarter.
Once a poster child for the retail apocalypse, the company had been hailed as a turnaround story after closing 29 unprofitable stores last year and moving to a smaller-scale, open-layout store concept. It also rebranded its steamy, sexy image with an all-American marketing campaign.