J. Crew
Once again, J. Crew has popped-up on our list because of the former first lady of America, Michelle Obama. This was one of her favorite “go-to” locations for clothes. But, in the last few years, the Company has noted sales are on a downward trend, so they have to close their stores. In addition to closing, they also lost a few of their core workers with former CEO, Millard “Mickey” Drexler, noting price increase is the reason for the drop in sales and profits.
J Crew
99 Cents Only
One of the more competitive stores as it relates to discounted sales and bargains, 99 Cents Only, has also joined the league of stores who will be closing some doors in 2020. They have been a huge hit on the market, especially when it came to other stores like Walmart, Dollar General, and Dollar Tree. 99 Cents Only celebrates its 35th year in operation and based on reports declared in 2017 ($27.1 million net loss and $42.4 million loss in two quarters), they eventually sold out to Ares Management. However, though sales are coming through the store, Jack Sinclair, the new CEO, admits the store is still suffering as it relates to potential gains and profits.
99 Cents Only
