As the’retail ice age’ approaches and more people shop online, a popular clothing retailer has announced plans to close 100 of its 600 stores.


Another well-known clothing retailer has just revealed it will be closing about 17% of its locations as the so-called “retail apocalypse” grinds on.

Over the next year, management at The Children’s Place plans to shut down 100 of the chain’s 600 remaining stores as part of a “fleet optimization initiative.”


The retailer is transitioning towards an online storefront based on market trends


Gap has also announced they will be closing 50 to 55 Gap and Banana Republic stores in 2023


BestLife reports that on March 16th, company president and CEO Jane Effers announced the decision during a quarterly earnings call.

Elfers said that the “bulk of those store closures” were planned for 2023, when the company expected to have closed around 100 stores.

She did not give any details about which stores were closing and when they would be closing.

According to reports, the store has been having financial difficulties over the past few years and has been making preparations to shift to a digital-first business model.

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The Children’s Place has permanently shut down 315 stores as of 2019.

In his talk, Elfers said that the shift toward an online storefront is driven by consumer preferences.

She explained that the fleet optimization strategy is in line with the digital shopping preferences of both current and prospective customers.

The industry titan mentioned how shoppers of different ages have different priorities.

This much is evident from the data. The preference for online shopping among millennials is substantial, and it is expected to grow among the parents of Generation Z.

It’s not just The Children’s Place that’s thinking of scaling back.

According to the company’s announcement, “50 to 55 Gap and Banana Republic stores” will be shut down in 2023.

CEO Katrina O’Connell said that the company has been shrinking its inventory of physical goods over time.

Gap said the closures would lead to a “smaller and healthier fleet of stores” on the company website.

“As we adapt to the current market conditions and meet the increase in online demand, we are looking thoughtfully at our real estate to support the best path forward,” the firm wrote.

Some consumers may want to make sure their favorite clothing stores are still operational before planning a spring wardrobe overhaul.


Micheal Kurt

I earned a bachelor's degree in exercise and sport science from Oregon State University. He is an avid sports lover who enjoys tennis, football, and a variety of other activities. He is from Tucson, Arizona, and is a huge Cardinals supporter.

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