Abercrombie & Fitch sees FY gross margin down slightly vs. FY13 Sees FY tax rate approximately $35%, CapEx approximately $210M-$220M. The company sees opening 15 full-price international stores throughout the year and approximately 8-10 international and U.S. outlet stores. The company continues to expect to close approximately 60-70 stores in the U.S. during the FY through natural lease expirations. Comments from slides that will be presented on the Q1 earnings conference call.
Abercrombie & Fitch enters into franchise agreement with Grupo AXO in Mexico Abercrombie & Fitch announced that it has entered into a franchise agreement with Grupo AXO to establish a retail store presence in Mexico. The franchise arrangement will encompass both the Abercrombie & Fitch and Hollister brands. The first Hollister store is set to open in late spring 2015 and the first Abercrombie & Fitch store is expected to open in late summer 2015. The company anticipates a continuing rollout that will include stores in cities like Mexico City, Guadalajara, Cancun and Playa Del Carmen.