From Clothes To Cards: More Retail Stores Closing In Arizona
The holiday season wasn’t strong enough for a fashion retailer and stationery chain.
Fashion retailer Express just closed its Phoenix store at Paradise Valley Mall. It’s among 31 stores closing this month.
Express said about 100 stores will close by 2022, but the future of its 9 other Arizona locations has not yet been announced.
The company expects a $90 million drop in sales by 2022 due to fewer stores but says the reduction will be offset by eliminating fixed operating costs and leveraging the remaining stores’ and online infrastructure for additional sales.
Meanwhile, employees at four stationery and greeting card stores will likely lose their jobs in the next four to six weeks.
After filing for bankruptcy protection, the retail group behind Papyrus and American Greetings will close all 254 stores, including one in Tucson at La Encantada, two in Phoenix at Biltmore Fashion Park and Kierland Commons, and one in Scottsdale at Scottsdale Fashion Square.