×
3 793
Fashion Jobs
JOHN LEWIS
Loss Prevention Partner
Permanent · HORSHAM
JOHN LEWIS
Loss Prevention Partner
Permanent · HIGH WYCOMBE
FRASERS GROUP
Warehouse Shift Manager - Day Shift
Permanent · SHEFFIELD
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · MACCLESFIELD
FRASERS GROUP
CRM Assistant
Permanent · SHIREBROOK
EVERLAST GYMS
General Manager - Everlast Fitness
Permanent · SOUTHPORT
BOOHOO GROUP
us Compliance Analyst
Permanent · MANCHESTER
HARRODS
Manager - Online Administration And Returns
Permanent · THATCHAM
FARFETCH
Senior Legal Counsel - Commercial
Permanent · LONDON
FRASERS GROUP
Delivery Manager
Permanent · BASINGSTOKE
CROCS
Key Account Manager - Mainstream, Departmental & Value Channel UK
Permanent · LONDON
FRASERS GROUP
Information Security Governance Analyst
Permanent · SHIREBROOK
L'OREAL GROUP
l'Oreal Luxe Multibrand Retail Account Manager
Permanent · London
COTY
National Account Manager
Permanent · London
TK MAXX
Loss Prevention Officer-tk Maxx High Street Kensington-Full Time
Permanent · London
HARRODS
Uniformed Security Officer - Thatcham Distribution Centre
Permanent · THATCHAM
HARRODS
Senior CRM Retention Executive
Permanent · LONDON
JOHN LEWIS
Section Manager Stock And Inventory – Nights
Permanent · BLETCHLEY
SELFRIDGES
HR Administrator (Part-Time)
Permanent · ENDERBY
SELFRIDGES
Digital Personal Shopping Content Manager
Permanent · LONDON
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · POOLE
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent ·
Published
Dec 12, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

J.Crew to close iconic SoHo flagship

Published
Dec 12, 2017

In the wake of quarterly sales falling 12% and ongoing financial loss, struggling retailer J.Crew will be closing its twenty one year old SoHo flagship in NY.

Facebook: J.Crew


Business Insider has reported that a source close to the decision cited high rent cost as being the reason the store is not sustainable for the brand anymore. J.Crew will continue to operate its men's store in SoHo.

J.Crew has six other full in line stores that will stay open in NY and thirteen total brick-and-mortar NY retail locations. The retailer will not reinvest in another full in line flagship in SoHo.

Closing the SoHo flagship is one of the fifty stores J.Crew recently announced it would be closing. Last year, J.Crew sales dropped 6% to $2 billion. Same store sales fell 8% over another 10% loss on the previous year.

J.Crew's former CEO Mickey Drexler has been quoted for saying the company made "a big mistake" with its prices and essentially priced out its consumers at a time that the American consumer is becoming extremely cost conscious. J.Crew did not respond nimbly enough against new competitors H&M and Zara, it said.

Drexler said, "We gave a perception of being a higher-priced company than we were — in our catalog, online, and in our general presentation."

The consumer did not respond to the increasingly expensive product. Both Drexler and long time Creative Director Jenna Lyons left the company earlier this year.

The SoHo J.Crew flagship that will be closing is located at 99 Prince Street.

Copyright © 2023 FashionNetwork.com All rights reserved.