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Zara was established by Amancio Ortega Gaona in 1975. Their first shop was in central A Coruña, in Galicia, Spain, where the company is still based.They initially called it 'Zorba' after the classic 1964 film Zorba the Greek, but after learning there was a bar with the same name two blocks away, rearranged the letters to read 'Zara'.
Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...
However, by 2012, the company shut down all Fashion Yatra stores and later terminated its Sisley agreement in an effort to shelve loss-making ventures. [12] In 2009, Trent and Inditex established a 49:51 joint venture to run Zara stores in India. [13] [14] Two years later, the two companies entered a similar agreement to open Massimo Dutti ...
U.S. retailers have announced more than 7,100 store closures through the end of November 2024, a 69% jump from the same time last year, according to recent data from research firm CoreSight. That ...
Store closures in the U.S. last year hit the highest level since the pandemic — and even more locations are expected to shutter this year, as shoppers’ dollars increasingly go to a few ...
In 2024, as Coresight notes, general-merchandise discount stores accounted for 1,754 of total store closures, or 23.9%, followed by apparel with 1,383 closed stores.
Bebe announced plans to close all stores and focus solely on online sales. At its peak, Bebe operated a total of 312 stores, but by March 2017, this was down to 172. [39] Bed Bath & Beyond announced in April 2019 that it would close 40 stores and also open 15 new stores that year. The company continued to struggle through the retail apocalypse ...
The company plans to close 148 stores in 2025. But given its more than 13,000 store footprint, that leaves plenty of locations going strong — at least for now. 3.