Yahoo Finance is tracking Abercrombie & Fitch (ANF) after the retailer announced it is changing up its store concept for the first time in 15 years. The company is looking to combat slowing mall traffic by providing a unique and personal shopping experience for its customers. The updated stores will feature innovative fitting rooms and omni-channel capabilities. There will also be a big emphasis on convenience. Associates will help shoppers place and pickup online orders.
“It is important that our stores reflect what the Abercrombie & Fitch brand is today, so we’ve created a new space for our customers that is warm, inviting, inclusive and open. We are excited for customers old and new to rediscover what is at the core of this American heritage brand: timeless, high-quality clothing that you want to live in,” noted Stacia Andersen, brand president of Abercrombie & Fitch and abercrombie kids, in the retailer’s announcement.
The revamp comes as shares have been struggling to get a boost. The stock is down more than 50% over the past year, and sales have been falling. Same-store sales dropped 14% in the third quarter following declines in its previous two quarters.
Earlier this month, Abercrombie & Fitch names Fran Horowitz, who had been serving at its CMO since December 2015, as its chief executive officer effective immediately. Horowitz replaced Michael Jeffries, who stepped down in 2014 after more than 20 years at the company.
The revamped store will open on Friday, February 17, at the Polaris Fashion Mall in Columbus, Ohio. It’s the first of seven stores that Abercrombie plans to build this year.
For more on Abercrombie & Fitch’s new store concept, check out the Final Round, live today at 4 p.m. EST, right here on Yahoo Finance.