Accent Group to shut down half of fashion retailer's stores
Fashion retailer Glue Store will have its brick-and-mortar presence cut in half as owner Accent Group seeks to make the chain profitable in the coming financial year.
In an ASX announcement, Accent Group said it would exit 17 Glue Stores, leaving it with 18 in total, including the online store.
The group said the cut stores were underperforming and not achieving required returns.
READ MORE: Joe Biden tests positive for COVID-19
It is not clear at this stage which stores will be shut. Sunshine Plaza
"I am pleased with our retail performance in H2 where the Company continued to experience strong momentum in Skechers, The Athlete's Foot, Hype DC, Stylerunner, Nude Lucy, and Hoka amongst others," Accent CEO Daniel Agostinelli said in a statement.
"The decision to exit the 17 underperforming stores will allow the Glue Store management team to focus on a profitable business comprising 18 stores including digital."
The release did not specify which stores would be closed, nor a timeline, or how many jobs would be affected.
9news.com.au has contacted Accent Group for comment.
FOLLOW US ON WHATSAPP HERE: Stay across all the latest in breaking news, celebrity and sport via our WhatsApp channel. No comments, no algorithm and nobody can see your private details.
Share a tip-off, video or photo with us
