Abercrombie & Fitch To Add Stores In The Middle East

Abercrombie & Fitch Co. said Monday that it will expand its presence in the Middle East to Saudi Arabia, Qatar, Bahrain and Oman through its partnership with Majid Al Futtaim Fashion. The teen retailer has already opened eight stores in the United Arab Emirates and Kuwait since 2013 with Majid Al Futtaim Fashion. The first Abercrombie & Fitch store will open in Qatar in the first quarter in 2017 and in Saudi Arabia in the second half of 2017. Abercrombie & Fitch shares are unchanged in premarket trading, and up 14.4% for the past year. The S&P 500 is down 2.8% for the last 12 months.