American Eagle To Close Some Stores

Bad news for American Eagle.
The company is set to close 50 to 100 stores over the new few years.
Currently they have 934 stores open. And that’s after closing 20 of their stores already over the past year.
Turns out their latest earnings report show a loss of 66%.
Ouch!
And to cut loses, they’re also planning on closing its Martin + Osa division.
While American Eagle is hoping that closing those stores will increase their profits, many will soon be out of their jobs.
Are U an American Eagle shopper? Let’s hope they don’t close a store near U.
[Image via AP Images.]