SAN FRANCISCO (KRON) – Fashion retailer Zara announced Wednesday it plans to close more than 1,000 stores worldwide and will shift its focus to online shopping after a slump in sales during the coronavirus pandemic.
The announcement was made by Zara’s parent company Inditex in a report last week, which revealed more than 1,200 store closures over the next three years.
The report did not disclose which stores would be closing, but said “stores at the end of their useful life” would be focused on.
As part of the new strategy, the company will “increase the online customer service teams and the dedicated packaging both from the specific online stockrooms and from the store.”
Zara is the latest retailer to announce store closures and a decline in sales during the pandemic. Others that have filed for bankruptcy and announced closures include J.Crew, JCPenney, and Neiman Marcus.