Express announced it is closing 31 stores in 20 states by the end of January.
The shocking move is part of the company's larger restructuring plan in an effort to reduce costs and revive the flailing brand. The stores closing this month are in Arizona, Arkansas, California, Connecticut, Florida, Georgia, Illinois, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas and Virginia.
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Layoffs are also planned, but the retailer has not specified an exact number of jobs or departments that will be affected by the cuts.
"When I joined Express, I outlined three priorities: changing the trajectory of the business, developing a corporate strategy, and putting the right team in place," CEO Tim Baxter said in a statement. "We have spent the past six months developing a strategy with the intent to return Express to long-term growth and a mid-single-digit operating margin. Today we took the necessary steps to put the right organization in place to support that strategy."
In addition to the 31 store closures this month, the company will shut down another 35 by the end of January 2021. By January 2022, the company plans to shutter close to 100 locations.
Take a look at the states where Express is closing stores in the slideshow below:
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January 24, 2020 at 03:49AM
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American fashion retailer Express is closing 31 stores across the country by the end of the month - AOL
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