Popular Clothing Retailer Now Makes Unexpected Closures in California
A popular clothing retailer now makes unexpected closures in California after announcing that it will open a new flagship locations.
Banana Republic is shutting down a major location in a mall on January 24, sources report.
Luckily for shoppers, there are two other Sacramento-area stores nearby, reports The-Sun.
There is one in the Arden Fair Mall, only 20 minutes from Roseville, and another in the Folsom Premium Outlets, which is 30 minutes away.
The store said it is not offering any closing sales.
This closure comes after Banana Republic announced that it would open a flagship location in San Francisco.
“As we embark on the next chapter in the BR story as the premium lifestyle brand, we remain driven by a desire for exploration and connection,” Banana Republic chief executive officer Sandra Stangl said in a statement.
“Our Banana Republic Geary Street store is our brand’s pinnacle flagship, showcasing our continued transformation in our historic hometown.”
The location includes products from the new BR Home collection, including furniture and lighting.
Gap Inc., the parent company of Banana Republic, Gap, Old Navy, and Athleta, has endured a slew of closures over the last year.
Between October 2020 and the end of 2023, the company shut down about 350 Gap and Banana Republic stores.
Two Old Navy stores are set to close in Toronto, Canada, this month.
One is located at the Eaton Centre and the other is at the Markville Shopping Centre. Both will also close on January 24.
A representative for Old Navy said the company is “evaluating its real estate portfolio to ensure a healthy fleet of stores that can provide the best possible experience for our customers,” in a statement to Global News.
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Also Read: A US Company Now Declares An Unexpected Bankruptcy
Other Economy News Today
A beloved shoe store now makes an unexpected closure in California as it announces the shutter of one of its 250 locations.
Aldo is the latest major retailer to close a San Francisco store as the city continues to struggle to attract shoppers, reports The-Sun.
Aldo’s final day at the San Francisco Centre in California is January 21.
The company has urged shoppers to visit its other location at Stonestown Galleria, according to The San Francisco Chronicle.
The Stonestown Galleria location is approximately 10 miles from the San Francisco Centre.
Aldo has yet to comment on the reason for its upcoming departure from the San Francisco Centre.
However, foot traffic at that location was not what you would expect from the country’s biggest mall, according to The San Francisco Chronicle.
The once billion-dollar mall has lost $910 million in value between 2016 and 2023, according to its most recent appraisal.
Westfield and Brookfield, owners of the property, released control to lenders last year confirming low sales.
Fewer customers visiting the mall also pushed their decision.
Aldo is not the only company to close a store at the San Francisco Centre.
There has been a mass exodus from the mall in the last year, with stores including Adidas, Lego, Hollister, and Nordstrom also shuttering.
The clothing store J. Crew has also decided to shut down for good on January 22.
An employee for that store revealed that the lease was about to expire, and the retailer didn’t want to renew it, SFGATE reported.
Thirty staff members will be impacted by the sudden closure.
While some of the employees will be transferred to other stores in the area, others had to be let go.
Also Read: A Beloved Clothing Store Now Makes Unexpected Closures
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