Your fave kid-centric retailer is shuttering up to 45 stores in the upcoming year. According to recent reports, The Children’s Place has a multi-year plan to close 300 stores by 2020—starting with 40 to 45 in 2019.
Even though the retailer announced upcoming closures, the Children’s Place is far from going the way of other brick and mortar stores. Case in point, the Children’s Place recently acquired the rights to the Gymboree and Crazy 8 brands.
So what’s in store for The Children’s Place and its’ new brands in the not-so-distant future? Jane Elfers, President and Chief Executive Officer, said in a press statement, “With respect to the Gymboree integration, we are on track for an early 2020 launch. Importantly, the recent launch of Tiny Collections, the curated toddler line we developed in response to Gymboree’s failed merchandising strategy, is performing above expectations.”
While more closures are reportedly set to come, during the first quarter of 2019 The Children’s Place only cut two stores. Along with two closures, the retailer also added one more location—taking the total number of stores to 971.
Featured photo: Mike Mozart via Flickr