Many brick-and-mortar stores are suffering due to the coronavirus pandemic. The Children’s Place just announced that they would be closing 300 stores across the country to focus on online sales. The retailer also intends to hold a huge liquidation sale in the near future.
Last week, The Children’s Place released their first quarter financial report which showed a significant loss in earnings. The President and CEO of The Children’s Place Jane Elfers explained in a press release that the company is “now targeting to close an additional 300 stores by the end of fiscal 2021, with 200 closures planned for this year, and 100 closures planned for 2021.”
At this point there are 920 brick-and-mortar locations throughout the United States and Canada.
Currently The Children’s Place is offing a massive 60% to 80% off Summer Sale.
Featured photo: Ajay Suresh