Express To Close 100 Stores, But None In Columbus
Columbus-based Express, Inc. on Wednesday announced plans to close 100 stores around the country, although none of the closures are expected here in Central Ohio.A press release from the upscale retailer says the 100 closures include nine stores that closed in 2019, 31 that will close by the end of January, and another 35 that will close by January 2021.
The company expects the closures to reduce sales by $90 million by 2022, which will be offset by cuts to operating expenses.
The news of closure came in the same press release where Express announced comparable sales fell about 3% in the final quarter of 2019.
The release also announced the company’s new corporate strategy of EXPRESSway Forward, which “outlines key initiatives based on the company’s four foundational pillars of product, brand, customer and execution.”