US fashion giant Abercrombie & Fitch to close Dublin city centre flagship outlet
ABERCROMBIE & Fitch, the large US fashion brand and retailer, will not reopen its Dublin city centre flagship store ahead of its lease expiration this month.
The company, which is listed on the New York Stock Exchange with a valuation of $1.73bn, announced its decision not to reopen the Dublin store during its Q4 earnings call with analysts.
Despite the decision not to reopen the flagship store at 34 College Green in Dublin, a spokeswoman for Abercrombie & Fitch said the brand remained committed to Dublin, where it opened its store in 2012.
“As announced on our recent Q4 2020 earnings call, our Abercrombie & Fitch Dublin flagship, which has been closed since December 30, 2020, due to Covid restrictions, will not reopen ahead of its natural lease expiration this month,” she said.
“We believe stores matter,” she added. “We remain committed to Dublin, and are looking for locations that better align with where our customers shop. Customers can also shop through our website and mobile app.”
During the call, Scott Lipsky, senior vice-president and chief financial officer of Abercrombie & Fitch, said the company had entered 2020 with 15 flagship stores — and was exiting with seven.
“Brussels, Madrid and Fukuoka closed due to natural lease expirations. London, Paris, Munich and Dusseldorf closed as a result of early exits discussed last quarter,” he said. “The last store, in Dublin, has been closed due to renewed Covid restrictions — and will not reopen ahead of its lease expiration in March 2021.”
Abercrombie & Fitch has previously shared plans to move away from large format flagship stores and legacy locations, favouring smaller spaces focused on catering to local and tourist customers’ needs.
In results for its Irish subsidiary, A&F Hollister Ireland Limited, the company reported sales of over €7.5m for the period ending February 1, 2020.
It employed a monthly average of 151 staff.