The parent company of Abercrombie and Fitch UK said it would close about 180 stores over the next few years.

The news coming that Abercrombie and Fitch Outlet already has shut down 135 stores nationwide for cost-cutting efforts. The company told Wall Street analysts it wanted to shut underperforming Abercrombie & Fitch locations as well as Hollister, mostly when the leases expire. Some will also be closed earlier than lease expirations.

Abercrombie & Fitch has four stores in the Pittsburgh region: Ross Park Mall, South Hills, Robinson Town Centre and Monroeville Mall.

"When we evaluate potential closures, which we consider on a case-by-case basis, we take into account a number of factors, including the economics of the store on a standalone basis; the impact of potential sales transferred to surrounding malls or our other brands in the same mall; the sales trend of the store relative to the chain in general; and the brand appropriateness of the location," said Jonathan Ramsden, executive vice president and CFO, on the call.

Ramsden said if the company could, it would close the underperforming stores "today," but that it would take some time. He said there are 250 top stores that had a 30 percent margin and "several hundred" that are below its objectives but still profitable.

The closures will be oriented toward its A&F and kids brands, though a smaller number of Hollister Co. stores are also being shut down, according to Dow Jones. Abercrombie Outlet also owns Gilly Hicks.

At the end of the first quarter, the company operated a total of 1,049 stores. It had 279 Abercrombie UK Outlet stores, 154 abercrombie kids stores, 491 Hollister Co. stores and 18 Gilly Hicks stores in the U.S. The company also operated 107 stores internationally.

A 5% drop in same-store sales in the US contributed to an 88% drop in first quarter profit, the retailer revealed last month. The company, which is in the process of expanding online and overseas in a bid to drive growth, said international sales of Abercrombie and Fitch jumped 42% in the period.

A fantastic new promotion at the Jewel Hut begins this weekend, offering Shamballa Bracelets Jewelry fans the chance to enjoy a free pair of earrings.

Anyone who spends £149 or more on Shamballa UK products will be able to select a pair of the brand’s earrings from a choice provided.

The offer is available to shoppers at the Jewel Hut for an extended week-long period, from Saturday 23 to Saturday 30 June 2012.

Shamballa Jewels has quickly become one of the Jewel Hut’s signature brands, after only becoming available on the site last September. Its colourful designs, marked out by signature crystal spheres, have become a hit with fashion fans worldwide.

This fanbase extends to popular male and female celebrities from the spheres of music, film, TV and sport. Among the famous faces that have worn Shamballa are Nicole Scherzinger, Emma Watson, Jessie J, Gerard Butler, Justin Bieber and JLS.

Recognised primarily for its iconic Shamballa-style cord bracelets, which combine coloured crystal with magnetite, the Shamballa Bracelets UK collection also features necklaces, rings, belly bars and, of course, earrings.

Shamballa earrings showcase the same sparkling aesthetic via crystal stud earrings in a wide range of colour options. More elaborate drop designs and multi-crystal earrings are also available.

Those jewellery fans taking advantage of the offer will be able to choose any pair of Shamballa earrings priced at £19 or less, subject to availability and while stocks last.

The Jewel Hut is a UK-based online jewellery store featuring over 40 popular brands. Alongside Tresor Paris, signature brands include jewellery phenomenon Pandora and hit fashion collections like Thomas Sabo and Links of London.
For more information on the week-long Shamballa Bracelet offer and to view items from top designer brands, visit the Jewel Hut at http://www.thejewelhut.co.uk.