Wednesday, December 16, 2020

DECELERATING NEWS

 Gap expects to close some 350 stores, approximately 30% of its Gap and Banana Republic stores in North America, by the end of fiscal 2023 (early 2024), with 75% of closures to be completed by the end of fiscal 2021. ..Carter’s will close 25% of its 850 stores as leases come up for renewal or where there is a kickout provision. Carter’s will continue to open stores in more densely populated areas. It plans to open nearly 100 co-branded Carter’s-OshKosh stores during the next 5 years...Pet Valu will close all its 358 US stores and warehouses in the U.S., as well as its corporate office in Wayne, PA...Francesca’s plans to close 234 stores by Jan. 30. The retailer runs about 700 locations, mostly in malls...Caleres plans to close 133 stores under its Naturalizer  footwear brand by the end of fiscal 2020…Guitar Center has filed for Chapter 11 bankruptcy protection with plans to reduce its debt by $800 million. The company plans to keep its nearly 300 US stores open during the process, which it expects to complete by the end of the year...Francesca’s has filed for filed for Chapter 11 bankruptcy protection with intention to sell its business. In November, Francesca’s revealed plans to close 140 of its 700 stores. As of Dec. 4, 558 stores were open...Bed Bath & Beyond has entered into an agreement to sell Cost Plus World Market to Kingswood Capital Management. Financial terms were not disclosed. The agreement includes 243 stores.

No comments:

Post a Comment