Friday, December 6, 2019

RTW to shutter up to 30 stores in coming weeks

Retail Dive
RTW Retailwinds, formerly known as New York & Co., said Thursday it will shutter up to 30 stores in coming weeks.  Plans are to open one New York & Co. store and close 27 stores (19 New York & Co., four Fashion to Figure and four outlets), executives said. For the year, RTW expects to have opened nine stores and closed 31.

The brick-and-mortar contraction comes amid disappointing third quarter results, including a 5% net sales decline to $200.1 million from $210.8 million last year.

A 4% store comp decrease furthered that drop, as did last year's closure of 14 stores, according to a press release. . . . more