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