USA: Tommy Hilfiger To Close 37 US Specialty Retail Stores
Tommy Hilfiger Corp is to close 37 of its 44 US specialty stores at the end of the Holiday selling season the company announced today. Chief executive officer Joel Horowitz said in a statement that the stores "have not met anticipated performance measures and we now believe that a better use of our management and investment resources is to meet the needs of our US core businesses and to pursue our growth opportunities in Europe." He said the remaining seven stores will be used as "vehicles for developing the exclusive product line."
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