Uniqlo’s Struggles Cause Fashion Chain To Close Stores

by MR Magazine Staff

The fastest-growing retailers have hit the same speed bump that the rest of the industry slammed into last year. Tokyo-based Uniqlo — a 1,700-store global chain with 43 US stores and big plans to grow its portfolio here — is the latest fast-fashion retailer to retrench amid slowing sales. With its brightly colored duds, neatly folded and meticulously displayed in megastores, Uniqlo has quietly closed five stores since January. They were all in suburban shopping malls, according to the company, in Danbury, Conn., Cherry Hill, NJ, Willow Grove, Pa., Northridge, Calif., and Staten Island, which was open less than three years. Read more at New York Post.