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Express closing 100 stores by 2022

The apparel retailer, Express Inc has now launched a new corporate strategy which involves closing stores and reducing costs overall. The retailer said that it plans to close approximately 100 stores by 2022. The company said that the planned closures would reduce revenue by $90m by 2022.

‘My expectation is that we will return to a mid-single-digit operating margin through a combination of low-single-digit comp sales growth, margin expansion and cost reductions, this will of course take some time, but we have a clear path.’ – Tim Baxter, CEO, Express.

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