Clothing retailer Express to close its 17 Canadian stores
Express Inc. says it’s closing its 17 Canadian stores in Ontario, Alberta and British Columbia.
The American clothing retailer says it will discontinue its Canadian operations through its subsidiary, Express Fashion Apparel Canada Inc.
Store closing sales will begin in the middle of the month.
There is an Express store in Hamilton’s CF Lime Ridge Mall. The other Ontario locations are in the Toronto area, plus an outlet store in Niagara Falls.
The company’s CEO, David Kornberg, said in a statement that the challenging Canadian retail environment and unfavourable exchange rates prevented the company from meeting its expectations in Canada when it entered the market in 2011.
Back then, the company planned to introduce more than 50 Canadian stores over five years.
During the company’s last financial year ended Jan. 28, Express Canada recorded net sales of about US$34 million and contributed a US$6 million net loss to Express Inc.
Express operates 635 stores in the U.S. and several locations in Puerto Rico.