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The retail industry took brutal blows in the midst of the Covid pandemic, with mom's shops and major global brands, making the difficult decision to close stores to compensate for the main losses of sale. Now another beloved brand gets a number of its retail locations due toSigns. According toWWD (via yahoo!), watch and accessories Brand Fossil plansClose up to 75 of its retail locations due to losses related to Covid.

According to a new revenue report, the company has seen losses of $ 96 million over the past year. Within three months ending January 2nd, Fossil saw sales of $ 528 million; During the same period, the previous year, revenues were $ 712 million, losses that the brand attributed to COVID reduction in customer traffic on its 421 retail sites.

However, CEO Fossil and PresidentKosta Kartsotis Expressed optimism that the brand could find its foot in the industry with organizational changes, including the appointment ofSunil Doshi like the new CFO and the Treasurer of society and the old CFOJeff Boyer Helming The roles of COO and Chairman of the Fossil Board.

"Our goal is to become a digital organization - a first organization, which also encompasses the strengthening of our operational platforms, including the supply chain, operations, logistics, information technology and sustainability initiatives "Kartsotis explained. Fossil is not the only brand that has been forced to make major changes in the middle of the pandemic, however; Read it to find out which other stores rank among the pandemic. And for some shopping experiences, you will never have,This beloved chain closes all its stores.

Popular shoe chain DSW announced in March that he plans to clog 65 from his 501 retail places. CEORoger Rawlins noted that the closures had come as a result of aSerious financial dip, with declining sales of 34% during the pandemic. "Until [customers] come back for the social opportunity, it is the game we need to play," explained Rawlins during a sales call on March 16th. And for the latest news from the closure delivered directly to your inbox,Sign up for our daily newsletter.

In March, children's clothing and accessories store the place of children announcedplans to clog 122 stores At the end of 2021, after closing 178 children's seating stores in 2020.
The decision was largely "conducted by theImpact of permanent and temporary store closures and the negative impact of the reduction of hours of operation in our shopping center stores, as indicated by the "pandemic-related shopping center owners, the mark said in a return. and for a company losing customers for a Another reason,That's why everyone is crazy loft right now.

Mall Staples Gap and Banana Republic will beClose 100 stores in the near futureThe parent company GAP Inc. announced in March. However, Gap Inc. will beExpand From his other more profitable lines, an old marine and an athleta. The company plans to add between 30 and 40 new Navigne stores and between 20 and 30 new athletic shops at its portfolio in 2021.

The world can become a little less magical in the near future now that Disney has announced its intention toClose 20% of your Disney Store detail Locations. However, the beloved retailer will beExpand your reach online And through existing retail channels, including stores in Disney Parks and the merchandise sold in department stores, including the target. "We are now planning to create more flexible and interconnected e-commerce experience that gives consumers easy access to unique and high quality products on all our franchises," saidStephanie Young, President of consumer products, games and publication, in a statement. And for more shop closing stores,This popular gift shop has just filed a bankruptcy.