SACRAMENTO (AP/CBS Local) – Express, a staple in U.S. malls, will close about 100 stores as part of a restructuring plan as the chain grapples with drastic changes in where people spend their shopping dollars.
The retailer that caters to younger shoppers said earlier this month said it was laying off 10% of the staff at its Columbus, Ohio, headquarters and its New York City design studio.
Express said Wednesday that it can cut its costs by $80 million partially through the store closures, nine of which took place in 2019. It plans to close another 31 stores this year and 35 more by the end of next year.
There are several Express stores in Sacramento, Citrus Heights, Roseville, Fairfield, and Vacaville. A list of which stores will be shuttering has not yet been released.
In a statement, the company says: “The company expects to close approximately 100 stores by 2022. This includes nine stores that have already closed in 2019, 31 by the end of January 2020, and an additional 35 by the end of January 2021.”
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