The Children’s Place, a specialty retailer for children, will close 300 stores.
The Children’s Place will mostly be leaving malls, with about 200 stores closing this year and 100 in 2021, according to CEO Jane Elfers. “This initiative will greatly reduce our reliance on our brick-and-mortar channel and we are targeting our mall-based, brick-and-mortar portfolio.”
The company’s total sales decreased by 38.1% compared to 2019 as a result of the temporary store closures, which began March 18, while e-commerce sales increased about 12%.
The list of closures were not mentioned in the earnings call. Merced currently has one location inside the Merced Mall.
This story will be updated.
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