American Eagle
After announcing intentions to eliminate 40 to 50 American Eagle stores by 2020, they may close more this year. Executives announced last October that the company might eliminate up to 500 outlets when leases expire over the next two years. According to Chief Financial Officer Mike Mathias, the retailer considers “leasing tenure, mall profile, proximity to other stores, and consumer experience level,” when deciding which stores should close permanently.
American Eagle
Zara
Zara is shifting its focus away from brick-and-mortar stores and toward online transactions in the wake of the coronavirus pandemic. Inditex, the holding company for the garment industry, stated last summer that it would close up to 1,200 stores globally over the next three years, beginning in 2020. The corporation also intends to invest $3 billion in digital initiatives, including hiring additional online customer care personnel.
Zara