Find in the news:
BY COUNTRY

Guess plans to close 100 stores worldwide



The U.S. retailer plans to close a tenth of all retail outlets within 18 months.
Guess Zlote Tarasy

Guess has become one of the retailers significantly affected by the coronavirus pandemic. Due to the shutdown of stores around the world, sales in the first quarter fell by 50% to $260 million (in the first quarter of 2019 this figure was $536 million).

The company was forced to send in unpaid vacations for store employees and half of its office staff. Guess also had to make significant salary cuts and cancel all expenses that were not deemed critical to the company's operations. 

In April, Guess stopped paying rent and began negotiations with landlords to revise rental rates in the wake of the pandemic. According to the company's CEO Carlos Alberini, many retailers' leases are about to expire, leading to the company revising the terms of the lease.

As a result of negotiations with the landlords and will be decided on the closure of retail outlets. Guess' management is optimistic and believes that out of the total number of 1169 stores the company will close only about 100. On the rest, most likely, it will be possible to reach an agreement with the landlords. According to Alberini, "the company's portfolio of stores around the world can be optimized to increase profitability". Most of the stores scheduled for closure are located in North America and China.

More about shopping malls in the USA



DAY BEFORE YESTERDAY, USA:
Louis Vuitton opens dog-friendly 'Dog LVERS' pop-up in NYC's Soho.
Oct 31, 2024, USA:
Designed to capture Atlanta’s artistic spirit and Southern landscape.
Oct 30, 2024:
Two years after controversial split, Adidas and Ye reach mutual conclusion.
Oct 29, 2024, USA:
Expanding footprint in North America with two new locations.
Oct 28, 2024, India:
Foot Locker has launched its first store in India, setting up shop in the Nexus Select City Walk mall in New Delhi.
Oct 25, 2024, China:
Modern design inspired by Shenzhen’s spirit.
Friend
and Follow
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
Westfield Garden State Plaza GLA:2 118 718 SF
ADDRESS: 1 Garden State Plaza, Paramus, NJ 07652


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us