Forever 21 is going out of business. It filed for bankruptcy in September and now it’s closing hundreds of stores as its clothes become more interchangeable with cheap rather than trendy.
Forever 21 has long been a staple in America's shopping malls. But after this holiday season, more of its stores will go dark.
Its focus on expansion made it unable to invest in its supply chain, and so Forever 21 took more time to get fresh styles of clothes to market at a time when fast fashion was really picking up and shoppers were hungry for newness. Its sales tumbled as Forever 21 was pitted against heightened competition from rivals such as H&M and Zara.
Analysts also say Forever 21 failed to understand some of the markets outside of America as it opened more shops in places such as China and London.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
GameStop cuts full-year profit forecast, shares slump 21%GameStop Corp reported a plunge in quarterly sales and slashed its full-year pro...
Consulte Mais informação »
21-year-old opens up about raising 5 siblings after parents' death: 'I became their adult'Samantha Rodriguez, joined by her five younger siblings, opens up on 'The View' about the difficulties of taking on the role of mom and dad after her parents' passing.
Consulte Mais informação »
21% of men say they're afraid to hire women after #MeToo. Megan Rapinoe isn't having itCNBC Make It spoke with soccer player Megan Rapinoe before being awarded Sports Illustrated's Sportsperson of The Year award.
Consulte Mais informação »
20 Little Known 'Christmas Vacation' Facts for Griswold Fans'National Lampoon's Christmas Vacation' will forever be a classic.
Consulte Mais informação »
Vegan gamers level up with all-day Christmas feast in a canA unique holiday feast aimed at 'gamers that don't want to leave their gaming chair on Christmas day' is now offering vegetarian and vegan options.
Consulte Mais informação »
The “Money Mistakes” Millennials Make In Relationships Might Surprise YouHere's why it’s so important to talk about money, and how millennials stack up against other generations when it comes to financial honesty.
Consulte Mais informação »