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Yet those closures haven't translated into an improvement in sales at surviving locations. The company's same-store sales fell 5 percent in the fiscal fourth quarter, with particular weakness at its namesake label. While that dip marked a slight improvement from the prior three-month period, trends decelerated from the first half of the year. In theory, a company's comparable sales should improve when it weans weaker locations from its store fleet. Though closing stores is an effective way to boost a retailer's productivity, there are drawbacks. Abercrombie, like much of the industry, does not recapture many of the sales it gives up when it shutters a location, management

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said. The company is testing changes to its marketing strategy to minimize those losses. Abercrombie does have a relative advantage in the amount of business it conducts online. Nearly one-third of its sales are generated online, up from 28 percent last year. The company will watch that growth to determine how many stores it should have in the long term, management said. "That's really still unfolding," Crevoiserat said, adding that stores remain a "very important part of the story." Other bricks-and-mortar chains are closing stores, including Macy's (NYSE: M ) and J.C.

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