Clothing chain with 3,500 outlets worldwide to close location in weeks – months after CEO revealed ‘reinvent’ strategy
After more than 15 years of operation, a NORTH Face store in a US city will close in a few weeks.
Although it has been a fixture in the Philadelphia city center since 2009, the closing-down outlet’s time is running short.
This is because, according to The Philadelphia Inquirer, it will close after January 31.
Additionally, the business has verified that the closure coincides with the store’s lease expiring.
According to a representative, The North Face has a long history of being involved with the Philadelphia community.
The chain has two additional locations in the greater Philadelphia area in addition to its 3,500 locations worldwide.
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About 20 miles from the outlet in the city center is the King of Prussia shopping mall, where there is one store.
Another is in Cherry Hill, a New Jersey township about ten miles from the heart of Philadelphia.
The closure is expected to result in the layoff of 17 employees.
The North Face has been contacted by the U.S. Sun for comment.
The parent firm of the North Face shut down a distribution center in Virginia earlier this year.
According to The Denver Business Journal, the corporation recently announced that it would be laying off hundreds of workers as part of a “reinvent” campaign.
The goal is to reduce expenses by $300 million.
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The closure will occur months after the closure of two other North Face stores nationwide.
After five years, a flagship North Face store in Seattle shuttered its doors in May.
It is among the few chains that have closed its locations in the city of Washington.
Among the companies that have shut down stores in Seattle in recent years are Nike and Target.
The closure has not been explained by North Face’s management.
However, crime has been a problem in downtown Seattle in recent years.
US braces for ‘45,000 store closures’
Experts have warned that in the next five years, about 45,000 physical stores may shut.
In recent years, a number of large retailers have announced shop closures or completely shut down their operations.
Chains including Mitchell Gold + Bob Williams, Shore City, Tuesday Morning, Sally Beauty, Foot Locker, and Z Gallerie have all closed.
Bed Bath & Beyond is now only an online retailer after closing all of its physical locations.
Since the beginning of 2019, the retailers most impacted have been those selling apparel, consumer electronics, sporting goods, hobbies, books, music, and home furnishings.
According to UBS, there will be 45k fewer retail locations overall—from 958k to 913k.
According to the paper, certain establishments should prosper while others should suffer.
Retailers like Target, Walmart, Costco, and Home Depot might be among the winners, it added.
Other store closures were said to have been caused by lawlessness.
Last year, a Target store in Seattle had to close due to criminal activity.
Target executives chose to close one of the nine.
After closing its Union Square location earlier this year, North Face moved out of San Francisco.
Once more, the business gave no explanation for why the store was closing.
As previously reported by The U.S. Sun, executives at numerous retailers are reducing the number of shops in their portfolios.
In just a few weeks, a Piggly Wiggly store in Cherokee, Alabama, will close.
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By Christmas, the 28-year-old Save-a-Lot store in Cedar Rapids, Iowa, will close.
According to the U.S. Sun, a Forever 21 store in the Californian seaside city of Santa Cruz would close by the end of January.
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