Crew and the department store chain J. We have to change this model. We have to do it very quickly if we're going to be here on the other side of the pandemic. Shedding underperforming brick-and-mortar stores has been one action. Pre-bankruptcy, Francesca's was already in the process of closing unprofitable stores in malls.
But a court-supervised restructuring process allowed it to break leases and speed up some of that work. Under Francesca's new owners, at least stores will stay open. It has operating today, down from the locations the retailer had when it filed for bankruptcy last December, and an even bigger decrease from the more than it had in Clarke's other focus is fixing the retailer's merchandise.
Prior to him joining Francesca's, the brand was most known for date-night outfits, dresses for school dances or graduations, and chic work wear, Clarke said.
But it has needed to shift as shoppers seek out more casual and comfortable options. On Dec. There were steep declines in sales as stores temporarily closed and disruptions in the supply chain, bringing the business perilously close to disappearing.
The company needed to be sold, get new backing, and needed to restructure its real estate and lease obligations. On Feb. We are exploring opportunities to show up in new strategic places through collaboration and partnership…This is a beginning of a new part of our story, the first of one of our stories to tell. But for the last 11 or 12 months, she has been curled up and staying at home.
We have had to adapt very quickly to reflect that new reality and mind-set. Please Sign In and use this article's on page print button to print this article. Feb 2, Related Content. The board is divided into three classes, each subject to election at each annual meeting of stockholders, with each director elected for a three-year term and until his or her successor has been duly elected and qualified, according to the company's website.
That suggests that the company is focused on financial levers to pull itself up, although there have been some improvements in stores observed by Saunders. It seems that Francesca's doesn't really know how to change or get out of its current rut. Follow Daphne Howland on Twitter. The pandemic upended some trends and dramatically accelerated others to further disrupt the flow of goods from manufacturers to retailers to consumers.
As the industry puts behind them, here's a look at some of the players that made notable comebacks this year. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. Search x. An article from. Published April 22, Daphne Howland Senior Reporter. Phillip Pessar. Filed Under: Financial News. Pandemic rebounds: 5 retailers that bounced back in As the industry puts behind them, here's a look at some of the players that made notable comebacks this year.
0コメント