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 may eliminate up to 500 outlets when leases expire over the next two years. Mike Mathias, the company’s chief financial officer, told Retail Dive that when determining which stores should close permanently, the company considers the following factors: “leasing tenure, mall profile, proximity to other stores, and consumer experience level.”
American Eagle
Zara
In the aftermath of the coronavirus outbreak, Zara is moving its attention away from brick-and-mortar stores and toward online purchases. Inditex, the holding company of the apparel industry, stated this summer that it would close up to 1,200 stores worldwide over the next three years, beginning in 2020. The corporation also intends to spend $3 billion on enhancing its digital operations, which will include the hiring of additional online customer support personnel.
Zara
