Tuesday, May 3, 2016

Aéropostale Set to Close 100 Stores, File for Bankruptcy Protection

Unable to shake off a long slide in sales, teen retailer Aéropostale is set to file for bankruptcy protection this week and close more than 100 of its stores, the Wall Street Journal reported on Monday evening.

Unlike its higher end peers American Eagle Outfitters and Abercrombie & Fitch , Aéropostale has not been able to return to growth in the last years as young consumers turn away from branded clothing. The retailer has also been hurt by the growth of fast-fashion retailers like Forever 21, Uniqlo, and H&M. Aéropostale’s comparable sales fell 6.7% during the holiday quarter.. . . more

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