The announcement came as part of the company's earnings call to discuss fourth quarter results. Overall, net sales for Abercrombie & Fitch in 2016 were down 9%. (In the last quarter, they decreased by 13%.) Fran Horowitz, the brand's chief executive officer, said that while the final numbers weren't what the company hoped for, the outlook remains positive. "Hollister, our largest brand, achieved positive comp sales and the Abercrombie brand renewal continues, although it is a work in progress," he said in a statement. "While overall results did not meet expectations, 2016 was a year of significant progress on each of our strategic priorities." Those include evolving and rebranding the retailers' identity, maintaining open communication with its customer, and responding to the ever-changing retail landscape — which, yes, includes store closures.