Thursday, June 27, 2019

Decelerating Retail

Abercrombie & Fitch Co. plans to close its Hollister flagship in Manhattan’s SoHo district and has exercised the kick-out clause for its flagships in Fukuoka, Japan, and Milan, Italy...Kohl’s Corp. will close its Off/Aisle by Kohl’s locations in August. Kohl’s debuted the off-price format, designed to sell merchandise that customers had returned to Kohl’s full-price stores, in 2015 in NJ.  The company went on to open three additional locations in the Milwaukee area…Barnes & Noble has agreed to sell itself for $476 million to an arm of investment firm Elliott Management, which owns U.K. bookstore chain Waterstones. With 627 stores in 50 states, Barnes & Noble is the nation’s largest bookstore chain... Francesca’s expects to close at least 30 locations this year. The company ended the quarter with 722 stores...Lululemon closed its two men’s only stores, in SoHo and Toronto…Fred’s Inc. is closing an additional 49 stores, with going-out-of-business sales underway as of June 21. The pharmacies in the locations will remain open. The chain has announced the closure of a total of 263 stores during the past two months. After the combined 313 closures, Fred’s will be left with 244 stores...Pier 1 is looking to close some 57 locations in its current fiscal year, higher than the chain’s previous estimate of 45, which it gave back in April. At that time, Pier 1 ended the quarter with 967 stores, down 30 from the year-ago period.

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