Outlet mall staple is closing all of its stores
New York (CNN Business)Heritage Brands, an anchor of outlet malls across the United States, announced that it will close all 162 of its stores beginning next year.

PVH Corp., which owns Calvin Klein and Tommy Hilfiger, blamed the closures on the "evolving North American retail landscape, which has been accelerated by the Covid-19 pandemic" in a company statement released late Tuesday.

"We did not take these decisions lightly, as our Heritage Brands Retail business is our oldest retail business yet no longer met appropriate return metrics," PVH CEO Manny Chirico said in the statement.

RSK: There will be more of this I am sure...only the beginning (I think that is a song by Chicago)...

- - Volume: 8 - WEEK: 30 Date: 7/21/2020 9:40:01 AM -