The Children’s Place is opening and closing stores in 2019.
As part of a multiyear plan to close 300 stores by 2020, the New Jersey-based retailer announced this week it plans on closing another 40 to 45 stores in 2019.
But at the same time, the company is looking to grow and fill the void left by former rival Gymboree. The Children’s Place purchased the for $76 million in March.
“As a result of Gymboree’s bankruptcy, we plan to open 25 stores in highly productive centers over the next two years, where the Children’s Place does not have a presence,” said Mike Scarpa, the company’s chief financial officer and chief operating officer, during a quarterly earnings call with analyst Wednesday.
Fred’s store closings:
Store closings 2019: