American Eagle Plans to Close Up to 250 Mall-Based Stores
American Eagle Outfitters (NYSE: AEO) told investors on Thursday it intends to close between 200 and 250 stores over the next few years, mostly in shopping malls, as foot traffic has declined considerably. This is in addition to the 52 stores it closed last year.
At the same time, its Aerie brand of lingerie and loungewear will see its store count increase by about 50 locations.
Image source: American Eagle Outfitters.
Source Fool.com