Rather than tucking their tails and jumping into the cloud, many large retail stores are closing down under performing physical locations in order to improve stronger locations. Some are in bankruptcy, a few are shutting down for good, and some will focus on online sales.
These companies are stocking new products, doing market analysis, and collecting data to pull customers from their phones and back into stores.
Here are the 20+ stores that have decided to scale back operations. We will continue to update this post as we hear of new store closings.
Closing: 60 stores
Announcement made: March 15th
Moving forward: In the last two years, Guess Inc. has closed 62 stores. The company will close 60 more in 2017. Relieving themselves of these stores will garner $16 million every year, according to WWD. Closures, lowered rent, digital landscape improvements, and more efficient production and distribution are part of Guess Inc.’s plan to better business in the Americas, just-style says.