The closures are happening alongside a review of Chico’s operations, which seeks to identify opportunities to enhance the retailer’s capabilities and reduce costs. The retailer will close a total of 100 Chico’s, 90 White House Black Market and 60 Soma locations over the next three years, with the majority of the closings occurring in 20.
While Dollar Tree is closing stores under investor pressure, Chico’s 2019 closures are part of a larger effort to better capitalize on its omnichannel platform, reduce costs, and improve profitability and return on invested capital. Chico’s And Abercrombie Make Strategic Moves In addition to shuttering underperforming stores, the retailer plans to rebrand 200 Family Dollar locations to the Dollar Tree banner.
Dollar Tree still will maintain a significant presence following the closures: the chain included 7,000 locations at the end of the latest quarter, in addition to 8,200 Family Dollar stores.
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