American Eagle
American Eagle officially announced its plan to shut down a range of forty to fifty stores before December 31, 2020, and the remaining outlets would cease operations in 2021. The firm executives mentioned that the leases would expire within two years, and American Eagle would close 500 branches by then. Mike Mathias, the CEO, said that the firm would consider “lease tenure, mall profile, accessibility to other merchants, and customer experience level.”
American Eagle
Zara
Zara would change its direction and start prioritizing online shopping instead of its physical stores. The leading cause of the decision was the COVID 19 outbreak. Inditex, the parent company of Zara, officially announced that it would cease its 1,200 branches across the world within the next three years, and it started last 2020. Zara planned to invest three billion dollars in improving its digital operations.
Zara
