Abercrombie & Fitch shutters Ruehl stores

In a move that surprised nobody, Abercrombie & Fitch (ANF) today announced plans to shutter its struggling 29-store Ruehl chain by the end of the year.

Perhaps the chain's offerings were out of step with the times. Ruehl sought to define "the aspirational Greenwich Village lifestyle" with high-priced "signature styles" of clothing. The names of its products invoked a trendy kind of sophistication that the New York City neighborhood is known for; "One Night Stand," "Buying Drinks" and "Chance Encounter" pocketbooks went for $298, while jeans sold for $118 and a pair of leather flip-flops fetched $50.