6,300 Stores Close As Consumers’ Buying Priorities Change

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300 stores of The Children’s Place

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Because of the ongoing coronavirus health crisis, The Children’s Place announced last June that it has plans of closing a total of 300 brick and mortar locations by the end of 2021. 200 stores are planned to be shutdown in 2020, with the other hundred in the fiscal 2021. When the company released its 2020 first-quarter financial results, it shared that “net sales decreased 38.1% to $255.2 million in the three months ended May 2, 2020 from $412.4 million in the three months ended May 4, 2019, primarily as a result of temporary store closures related to the COVID-19 pandemic.” By the end of fiscal 2021, the company will be operating 625 stores in the US, Canada and Puerto Rico.