Brick and Mortar Retail Deep Freeze: 300+ Store Closings Announced in a Single Day

Sharing is Caring!

via businessinsider:

Gap, JCPenney, and Victoria’s Secret announced more than 300 store closures over the course of 24 hours this week, sending a clear signal that the fallout from the retail apocalypse is far from over.Tesla also announced it would close “many” of its 378 physical dealerships in favor of online-only sales.

See also  The Moment Wall Street Has Been Waiting For: Retail Is All In
See also  Retail buyers went all in buying this dip. If market only goes up why not? Major earnings reporting next week...

Gap said Thursday that it would close 230 namesake stores over the next two years as it reported that the brand’s same-store sales fell 7% during the holiday quarter. The company also said it would spin off its Old Navy brand.

 

818 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.