In an all too familiar story, it seems as if another prominent American retailer with high hopes of capitalizing on the Canadian market has been forced to retreat.
The Toronto Star is reporting that Express Inc. will be closing all of it’s 17 Canadian stores. Not only will Express Inc. close stores, the brand will also discontinue Canadian operations through its subsidiary, Express Fashion Apparel Canada.
According to top representatives from Express has said that the Challenging Canadian retail environment and unfavourable exchange rates prevented the company from meeting its goals.
There seems to be a recurring theme here that has started to rapidly take hold of the Candian retail sector. Brands that are not a luxury retailer or a fast fashion seller are getting squeezed out of the market.
Source: The Toronto Star