The chain will be shutting 300-350 stores as part of its global business overhaul.
Forever 21 files for bankruptcy
The chain will be shutting 300-350 stores as part of its global business overhaul. Out of the apparel chain’s 549 stores in the US, 178 will be shuttered. Forever 21 plans to exit most of its locations in Asia and Europe, but will continue to operate in Mexico and Latin America.
Ikea’s sales surge online
Its online sales surged 43% in the 12 months ending August. This has helped the retailer reach $45.4 billion in sales. Ikea’s online sales now account for 7% of total sales