Chico’s has introduced a wave of retailer closures because it tries to higher compete amid a retail panorama roiled by the rise of on-line procuring and fast-changing vogue.
The ladies’s clothes vendor says it can shutter at the very least 250 places over the subsequent three years, throughout its namesake chain in addition to its two different retail manufacturers, White Home Black Market and Soma.
“Our focus is on implementing these initiatives that drive the best ranges of progress and profitability of our enterprise,” Shelley Broader, Chico’s CEO and president, mentioned in an announcement Friday.
The corporate says that it has already made strides to mix its digital and brick-and-mortar experiences, enabling buyers to purchase on-line and decide up at an precise retailer, and creating partnerships with Amazon and QVC.
The corporate mentioned that it didn’t have an inventory of the affected shops right now, however many of the closings are slated to happen after this yr.
Chico’s says that it has additionally begun “a complete evaluate of its operations” that may embody a evaluate of bills.
This text initially appeared on USA TODAY: Chico’s will close at least 250 stores to better compete in the age of Amazon