American Eagle
Following the announcement of plans to close 40 to 50 American Eagle stores by 2020, the remaining stores will be closed this year. Last October, company executives said that when leases expire over the next two years, the company may close up to 500 locations. Chief Financial Officer Mike Mathias told Retail Dive that the retailer considers “lease tenure, mall profile, accessibility to other retailers, and customer experience level” when deciding which stores to close permanently.
American Eagle
Zara
In the aftermath of the coronavirus pandemic, Zara is shifting its focus away from brick-and-mortar stores and toward online purchases. Inditex, the holding company of the apparel company, announced this summer that it would close up to 1,200 stores worldwide over the next three years, starting in 2020. The company also plans to invest $3 billion in improving its digital operations, which will include hiring more online customer service representatives.
Zara