Saturday, January 7, 2017

The Limited Closing Immediately

Apparel has been a tough business for a couple of years, tougher still for stores in malls, and now The Limited is closing up shop. The retailer says on its web site that all its stores are closed. Separately it has said that stores are closing no later than tomorrow, January 8. Reports from some locations say that stores there have closed already. The clearance sale will be held online, though even at liquidation prices only diehard fans are likely to buy clothing online after seeing the phrase “all sales final.” At its peak, The Limited had 750 stores across the United States, though only 250 remained as of the start of the year. At The Washington Post:

The retailer says its web store will remain, but of course, it would say that. There is nothing on the web site now but the final clearance sale, and customers will have to wait and see what kind of relaunch, if any, follows in the spring season.

After two years of gloomy news, I am almost surprised at how few stores in this segment have actually closed. I expect more retreat, but especially from the more pricey young and formerly-young specialty apparel chains.