Aeropostale to Close 125 P.S. Mall StoresAeropostale has announced plans to close its P.S. from Aeropostale mall stores. There are about 125 stores. The retailer made the announcement today. The company says it plans to close the stores by the end of its fiscal 2014. The company says its decision was based on changing consumer patterns, particularly by the "mom shopper."
Thomas P. Johnson, ceo of Aeropostale, Inc., says in a statement, "The steps we are announcing today build on our turnaround efforts from the past year. Through the restructuring of our P.S. from Aeropostale brand, and expansion of our expense savings program, we will be better positioned financially and have laid the groundwork for the future. In addition to today's steps, our transaction with Sycamore Partners continues to proceed as planned, and will also provide additional runway to continue to implement our merchandising, marketing, and operational strategies designed to reposition the Aeropostale brand. Today's actions reflect the very difficult but necessary decisions we have made to align our business with overall retail market trends. We thank all of the employees who have contributed to Aeropostale's turnaround plans for their diligence and dedication."
Bloomberg notes that Aeropostale announced plans to close 50 Aeropostale stores and two P.S. in 2014. The company is also cutting 100 jobs.
Posted on April 30, 2014