Fashion
Canadian chain Hudson’s Bay has decided to close all of its stores in the Netherlands, meaning 1424 people will lose their jobs by the end of the year.
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A change of course for Abercrombie & Fitch: the fashion chain is going to close three flagship stores. Its new focus will lie on smaller stores, while 85 stores will be revamped.
Arcadia Group, the owner of chains like Topshop, has announced a number of stores will be closed permanently - including all of the eleven stores in the United States.
Fashion chain C&A has indicated it wants to reassess its network of French stores, which currently features 150 locations. According to the trade unions, 14 of those stores would be closed permanently.
The American clothing group Gap is going through a rough patch, and major measures are deemed necessary: Old Navy will be split into a separate listed company, while other brands will have to close several stores.
Furniture
Hudson’s Bay Company continues to cut in its activities: it will be closing all outlets of home decoration store Home Outfitters. Another chain, Saks Off 5th, will be thoroughly reviewed: twenty outlets may be closed.
General
Sales are slipping at a steady pace at Marks&Spencer. According to chief executive Steve Rowe, it is a situation the British chain simply has to sit out: he does not rule out the possibility of closing more stores.
Serio Bucher, CEO of Debanhams, believes his company will have to take some drastic steps to support its retail businesses in what he calls a volatile and challenging market.
