GUESS Is Closing 100 Stores Over The Next 18 Months

While many stores are reopening their physical locations after months of being shuttered, some brands are being faced with the difficult decision of closing them. It’s just been revealed that GUESS will be closing 100 store locations over the next eighteen months.

According to Business Of Fashion, the retailer will be closing stores in North America and China and that these 100 stores work out to being 9% of its total network.

guess closing
Instagram/@guess

BOF reports that one-third of Guess stores in Canada and the U.S. have leases ending soon and 15% of its European stores will come up for renewal in the next year. 

The brand was able to reduce some expenses as it furloughed workers while stores were closed due to the COVID-19 pandemic. It also suspended rent payments in April and is now in negotiations with landlords.

As of February 2020, Guess has 1,169 stores, with its partners operating an additional 560.

guess closing
Instagram/@secretlifeofaggie

Guess is just another name to add to the list of retailers and companies who have announced store closings. Victoria’s Secret, Nando’s, Pier 1 Imports, and more have sadly shuttered locations or have closed down completely.

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