For the retail industry’s brick-and-mortar stores, the realities of online shopping and changing tastes have driven down sales, causing hundreds of locations to close their doors.
So what’s the status of the stores making headlines these days? Here’s a quick guide:
Abercrombie & Fitch: The preppy classic clothing store is closing 60 U.S. stores during the 2017 fiscal year as leases expire, CNBC reported. This follows the closing of 53 domestic shops last year and likely won’t be the end of it. The company has more than 700 locations, and half of them have leases that will be up for renewal by the end of fiscal 2018, lending the option to more closings.
Aeropostale: The teen clothing store filed for Chapter 11 bankruptcy in May 2016 after losing money for 13 consecutive quarters. They announced the closing of 154 of its approximately 800 locations, with 113 closings in the U.S. and all 41 Canadian locations closing. In a negotiating fight that lasted into fall 2016, the company was able to save 504 stores and keep them operating, saving 26 percent more stores than it had initially projected would stay open.
American Apparel: The signature “Made in the USA” California-based brand will be closing all 110 of its stores by the end of April, CNBC reported. On Jan. 10, a Canada-based company won the auction of rights to the brand but has indicated that it will not take on any of the 110 stores, causing American Apparel to begin shutting them down.
American Eagle Outfitters: American Eagle has been struggling as sales have been dropping in the last few years. In 2013, the company announced it would close 150 of its approximately 1,000 stores over a three-year period, Reuters reporter.
Barnes & Noble: The bookstore will close its Bethesda, Maryland location at the end of 2017. Barnes & Noble only closed eight stores in 2016 and currently has 640 locations as of 2016.
BCBG: BCBG Max Azria Group filed for bankruptcy protection in March. The company is closing about 120 stores, mostly in the U.S., CNBC reported. Liquidation sales started in February and will run eight to 10 weeks before the stores close for good.
Bebe Stores Inc.: The specialty women’s apparel chain will close 21 of its 172 locations, some 12 percent of its outlets, according to CNBC.
Casual Adventure: The outdoor equipment outfitter in Arlington, Virginia is closing its doors after 61 years of business. The family-owned store has been operated by four generations but can’t stay open any longer due to online competition and growing demand for the property.
Children’s Place: The children’;s clothing company plans to close up to 300 stores through 2020 to focus on online shopping and began the downsizing process in 2015, CNBC reported. However, a surge in profit during the first quarter of the fiscal 2017 year looks encouraging.
Crocs: The plastic clog…