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Aéropostale exiting malls with youth format
Teen specialist Aéropostale lent credence to the “malls are dying” voices by announcing the closure of 125-mall based stores and the elimination of 100 headquarter positions.
Citing changing shopping patterns among moms, Aéropostale said it planned to close 125 of its 150 P.S. from Aéropostale stores which focus on kids ages four through 12. The move is part of a larger cost reduction program related to a turnaround strategy that is expected to result in annual savings of $30 to $35 million.
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Flip Flop Shops to open 20 Caribbean franchise stores
Atlanta - Flip Flop Shops has signed a master franchise agreement with Happy Toes Caribbean that calls for the establishment and development of at least 20 new shops throughout the islands, the first of which will open in Aruba in late 2014. The master franchise rights agreement also covers the management of three established stores in St. Thomas, St. Maarten and Curacao.