- Seph Lawless
- Charlotte Russe, Family Dollar, Abercrombie & Fitch, and Chico’s announced more than 1,100 store closings in total over the course of 24 hours this week.
- The news comes one week after JCPenney, Gap, Victoria’s Secret, and Tesla announced that they would close more than 300 stores.
- These announcements bring the total number of planned closures this year to more than 5,300.
Store closings are picking up steam.
Charlotte Russe, Family Dollar, Abercrombie & Fitch, and Chico’s announced more than 1,100 closings over the course of 24 hours this week.
The new store closings bring the total number of planned closures announced this year to more than 5,300.
Charlotte Russe said Thursday that it would liquidate its remaining 416 Charlotte Russe stores and 10 Peek Kids stores, after kicking off closing sales at 94 stores in February. The women’s clothing retailer filed for Chapter 11 bankruptcy protection last month.
On Wednesday, Dollar Tree said it plans to convert about 200 Family Dollar stores into Dollar Tree stores, and close up to 390 additional stores under the Family Dollar brand.
Chico’s and Abercrombie also announced closures on Wednesday.
Chico’s said it would close 100 Chico’s stores, 90 White House Black Market stores, and 60 Soma stores over the next three years, and Abercrombie & Fitch said it plans to close up to 40 stores this year. Abercrombie & Fitch also plans to open new stores under other brands.
The company announced the closings as it reported that Abercrombie’s same-store sales fell 2% during the fourth quarter. Most of the stores that Abercrombie plans to close are located in the US, the company said.