Struggling Apparel Retailer Bebe To Shut All Stores

Shopping StoresCHICAGO/PITTSBURGH (Reuters) – America’s annual Black Friday purchasing extravaganza was brief on fireworks this yr as U.S. retailers’ reductions on electronics, clothes and other vacation items failed to draw massive crowds to shops and procuring malls.

During a recent earnings name , Staples said similar retailer sales in North America have been down 7% throughout the fourth quarter of 2016. The drop in gross sales was blamed on decrease foot site visitors. In a news release , the company mentioned it has already closed roughly a hundred and eighty Sears and Kmart stores in fiscal 12 months 2017 and will close another a hundred and fifty previously announced areas┬áby the end of the third quarter. Now as part of its ongoing Chapter eleven bankruptcy filing, Payless has announced the closure of 112 extra shops. The brightly lit Canoga Park store has a limited assortment of potential vacation gifts, together … Read more