Headlines

Children’s Place to Close 300 Stores

Retailer will focus on smaller mall footprint

Published

4 years ago

June 15, 2020

VMSD Staff

The Children’s Place Inc. (Secaucus, N.J.) will close 300 stores over the next 20 months, according to Market Watch. The company has closed 275 stores since 2013. As of the beginning of June, the retailer had reopened 65 stores post-pandemic and still had 95 percent of its doors closed due to COVID-19 restrictions.

"We continue to think of margin risk as to the most significant issue as the company aims for higher digital penetration and a much smaller mall footprint, coupled with a tight liquidity position, should the negative cash flow continue through the year," wrote analysts at Wedbush Securities, which rates its shares as neutral.

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