Another day, another brand bites the dust. Can't say this one surprises us either, sadly.
American Eagle Outfitter Inc. said that its Martin + Osa retail concept is shutting down. The 28 stores and online business are expected to be closed by the end of the second quarter.
The company had mentioned before that it was evaluating the future of the brand although same-store sales had increased and the bottom line was better than ever before. In January, Martin + Osa president Laura Dubin-Wander left and was never replaced.
“Closing Martin + Osa was a difficult decision, particularly in light of the progress that was made over the past year,” said CEO Jim O’Donnell. “However, it is in the best interest of our company and stakeholders to focus our efforts on the brands that capitalize on our strengths and have the highest potential."
Source, Photo: WWD.com
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