Wednesday, April 17, 2019
Decelerating Retail News
Hibbett Sports will close 95 stores in its current fiscal year, while opening 10 to 15 Hibbett and City Gear stores. Hibbett acquired the 135-store City Gear chain in October. The company had a total of 1,163 stores in 35 states as of February…LifeWay Christian Resources will close all 170 of its brick-and-mortar stores of their stores by the end of the year to focus on digital sales…Ascena Retail Group has signed an agreement to sell a majority interest in its 943-store Maurices division to an affiliate of OpCapita LLP for about $300 million…DXL will close its 5 remaining Rochester Clothing stores in fiscal 2019. DXL acquired the upscale brand in 2014. In 2019, the company will continue to convert its remaining Casual Male stores to the DX banner. It will rebrand 13 of the remaining 95 Casual Male locations in 2019, with a total 60 to be converted during the next several years…Walmart is closing at least 8 US stores across 8 states. Walmart said it plans to open fewer than 10 new stores over the next year. Walmart has more than 4,700 US stores, including 3,570 Supercenters and nearly 700 Neighborhood Markets... J.C. Penney will close 9 home and furniture stores this fall in addition to the 18 stores previously slated for shutdown...Fred’s Inc. will close 159 stores by the end of May, with the liquidation sales starting on April 11. Fred’s has partnered with Malfitano Advisors and SB360 Capital Partners to manage the closings, which will leave the retailer with 398 locations.