International retail chains were on Tuesday counting the cost of the collapse in world travel, as Abercrombie & Fitch said it would speed up the closure of flagship stores in several major tourist destinations and Tiffany said its sales fell sharply in Europe and the Americas.
Abercrombie & Fitch, the clothing chain, announced it would shut large stores in London, Paris and five other locations after a slump in visitors during the pandemic compounded their long-running underperformance.
The stores being closed — almost all in Europe, and four before their leases were due to expire — occupy about 200,000 sq ft, or about a tenth of the US-based clothing brand’s total space.
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