Wednesday, July 20, 2016
Uniqlo has quietly closed 5 stores since January amid slowing sales, all in US suburban shopping malls, one of which was open less than 3 years. Uniqlo has 1,700 global stores, 43 in the US. Owned by Fast Retailing, the company told investors last year that it would scale back US expansion after opening 17 stores in 2014. Last year it opened 4 new stores, and has announced that three stores will open this year... Apparel manufacturer VF Corp. entered a definitive agreement to sell its contemporary brands businesses to apparel company Delta Galil Industries Ltd for $120 million. Brands include 7 for All Mankind, Splendid, and Ella Moss, with the deal expected to close later this year.