Fashion retailer Express closing more stores, including 1 in Phoenix
Jan 23, 2020, 4:25 AM | Updated: 11:20 am
PHOENIX – Fashion retailer Express announced plans Wednesday to close dozens of stores nationwide this month, including one in Phoenix, and dozens more over the next year.
The struggling company shuttered nine stores in 2019 in an effort to reduce costs and adjust to shifting shopping habits.
It plans to close 31 additional stores by the end of this month and another 35 by end of January 2021.
The Express outlet at Paradise Valley Mall in Phoenix is the only Arizona store on the chopping block this month, the company told KTAR News 92.3 FM in an email. The retailer has not yet determined which locations will close in the future.
Express, which operates primarily in shopping malls, has six other Valley stores.
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The company said it can cut its costs by $80 million annually, partially through the store closures.
The retailer, which caters to younger shoppers, said earlier this month it was laying off 10% of the staff at its Columbus, Ohio, headquarters and New York City design studio.
Express operates about 600 stores. Its sales and profit growth have slid over the past three years.
Clothing retailers, particularly those in malls, have been devastated by changing consumer behavior. More than 9,000 stores were shuttered last year.
The Associated Press contributed to this report.
