J. Crew
In recent years the profits of J.Crew stores have plunged, this being the primary reason for its closure. J. Crew has also said farewell to Jenna Lyons, their bridal shop and beloved creative director. This is sad news for Michelle Obama, America’s former first lady, as she is a big fan of the J. Family, and now her source of go-to clothing is shutting down. The CEO, Millard “Mickey” Drexler, who left the company as well, said raising prices is to thank for the bad news in paradise.
J. Crew
99 Cents Only
The company 99 Cents Only sells discounted items, competing with large names like Dollar Tree, Target and Dollar General. 99 cents announced a net loss of $27.1 million in December 2017, in addition to a loss of $42.4 million in the first and second quarters. As a result the 35-year-old company was eventually sold to Ares Management, ultimately moving to the Canada Pension Plan and then finally to a private individual. The new CEO, Jack Sinclair, announced some good sales from the same store, but unfortunately 99 Cents Only is dropping, rapidly.
99 Cents Only
