American Eagle
This company shared with everyone that around 40 to 50 locations will be shuttered by the end of 2020. In the previous fall, the executives of American Eagle said that they were thinking of pulling the plug on as many as 500 shops in the next two years once their leases expire. Mike Mathias, who is the Chief Financial Officer of the clothing retailer, said that the company is considering “leasing tenure, mall profile, proximity to other stores, and consumer experience level.”
American Eagle
Zara
At the moment, Zara wants to prioritize online transactions over physical shops due to the COVID-19 pandemic. Inditex, which is the holding group of the clothing brand, revealed that it wanted to shut down as many as 1,200 stores globally in the next three years. The plan was meant to start in 2020. The company wants to pay $3 billion to improve its e-commerce and expand the customer support staff.
Zara
