Several bidders including two large U.S. mall owners, Simon Property Group and General Growth Properties have placed a bid for Aeropostale assets. This would allow for Aeropostale to remain open in a footprint of 229 stores.
In recent weeks and months, major retailers have been filing for bankruptcy, closing stores and slashing jobs. See what retailers are rethinking their business.
Amid difficult days for apparel companies, embattled teen retailer Aeropostale as expected has filed for Chapter 11 bankruptcy protection, and plans to close 113 U.S. stores. It joins other recent companies including Sports Authority and Vestis Retail Group, owners of Sports Chalet, Eastern Mountain Sports and Bob’s Stores.
Pureplay ecommerce retailers are disadvantaged by the high cost of marketing and shipping, making their business model challenging and ultimately unsustainable in the long-term, according to a report released this week by L2.
Borderfree, now a part of Pitney Bowes Inc., announced that it will bring more American fashions, sports apparel and lifestyle accessories to online shoppers in China.
Aeropostale’s expansion plans in India include the opening of 50 standalone stores, 150 shop-in-shops in select locations, and ecommerce operations across the country over the next five years, beginning in March 2016.
Borderfree is collaborating with Alibaba’s e-payments service provider Alipay to launch five American retailers in a new pilot program this holiday season, see which retailers are part of the program
Aeropostale, a specialty retailer of casual apparel for young women and men, released its third quarter results, which showed a 15% decrease in net sales and comparable sales, which include the ecommerce channel. CEO Thomas P. Johnson said in the release that he was “disappointed in the overall performance as customer adoption is occurring more slowly than we would like against the backdrop of a challenging teen retail environment.”