Despite booking a profit for the fourth quarter that increased over last year, specialty apparel retailer Children's Place Retail Stores Inc. (Secaucus, N.Y.) said Thursday it will accelerate its store closures.
The company expects to close a total of about 200 stores through 2017, including the 76 stores closed in 2013 and 2014, an increase from the previous target of 125 store closures in the period from 2013 to 2016, reports RTT News.
“Looking ahead to 2015, we are optimistic about our brand's potential,” president and ceo Jane Elfers said in a statement. “Our merchandise assortments are compelling and our fundamentals are strong. We expect to begin to see results from our investments in seamless retail and state of the art planning and allocation systems in the back half of this year.”