American Eagle Outfitters is closing up shop for Martin + Osa. The Pittsburgh-based fashion/accessories retailer said that, while the “refined casual” brand was making progress, “it was not achieving performance that warrants further investment.”
Closure of all 28 Martin + Osa stores is expected to be substantially complete before the third quarter of fiscal 2010. American Eagle is also shutting down the subsidiary’s online store.
Jim O’Donnell, American Eagle Outfitters’ ceo, called the move “a difficult decision.” “However, it is in the best interests of our company and stakeholders to focus our efforts on the brands that capitalize on our strengths and have the highest potential,” he said in a corporate statement. “Creating new brands is never an easy endeavor. The valuable lessons and experiences we gained will serve us well as we continue to develop and launch new lifestyle brands.”