Mango will close 450 sales outlets in the United States early next year after ending a five-year deal to display its clothing lines at department store J.C. Penney, a spokesman said.
MADRID, Spain — Spanish fashionFashion is a popular style or practice, especially in clothing, footwear, accessories, makeup, body piercing, or furniture. Fashion is a distinctive and often habitual trend in the style in which a person dresses. It is the prevailing styles in behaviour and the newest creations of textile designers. order Lasix chain Mango will close 450 sales outlets in the United States early next year after ending a five-year deal to display its clothing lines at department store J.C. Penney, a spokesman said.
The unlisted retailRetail is the process of selling consumer goods and/or services to customers through multiple channels of distribution to earn a profit. Demand is created through diverse target markets and promotional tactics, satisfying consumers’ wants and needs through a lean supply chain. In the 2000s, an increasing amount of retailing is done online using electronic payment and delivery via a courier or postal mail. Retailing includes subordinated services, such as delivery. chain, which competes with Inditex brands such as Zara as well as Sweden’s H&M, will not be renewing the expiring agreement and will close the outlets around February, the spokesman said, confirming a report on website moda.es.
Mango will still have seven stores in the United States, including ones in New York and Miami, and it plans on expanding there again, focusing on key cities such as these.
The closures should not have a major effect on Mango’s revenue, as the JC Penney outlets only accounted for 0.5 percent of its global sales, the spokesman said.
J.C. Penney posted a lower-than-expected loss for the second quarter, though the department store operator has struggled in recent years as sales declined, and it abandoned its attempt to go upmarket in 2013.
Family-owned Mango has stores in more than 100 countries. Its annual profit fell 11 percent in 2014 after investing in an international expansion plan.