Thursday, June 21, 2012
Industry News: Decelerating
American Eagle Outfitters is exploring a full or partial sale of children’s brand 77kids, which includes 22 stores and an online business...The Wet Seal Inc. is closing as many as 20 Arden B stores, and will open fewer Wet Seal stores. It plans to open 20 to 22 Wet Seal stores this fiscal year, rather than the previously planned 25 to 30 stores, and expects to close 15 to 20 Arden B locations. The company had 469 Wet Seal stores and 84 Arden B stores at the end of the period...Avenue Stores will close 96 stores over the next three months. The company will continue to operate more than 300 stores in 34 states, and offer online shopping...Men’s Wearhouse remains on track to close as many as 47 Men's Wearhouse and Tux stores and 2 K&G locations in the current fiscal year…Supervalu will cut as many as 2,500 positions at its Albertsons unit. The reductions should be completed July 1.