RETAIL APOCALYPSE: Gap, JCPenney, Victoria’s Secret, Foot Locker Announce 465 Store Closures
By Jade Scipioni, Fox Business // March 4, 2019
announcements will bring number of planned stores closures this year to more than 4,500
(FOX BUSINESS) – The “retail apocalypse” Opens a New Window. is alive and well this week with major chains such as Gap, JCPenney, Victoria’s Secret and Foot Locker all announcing massive closures, totaling the death of more than 465 stores over the last 48 hours.
All four companies reported their fourth-quarter results this week during the critical holiday period, with three of them (Gap, JCPenney and Victoria’s Secret) reporting declining same-store sales, while Foot Locker reported growth that more than doubled expectations.
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