Wet Seal isn’t the only retailer closing locations and laying off employees this month.
» RELATED: Abercrombie & Fitch eliminates 150 positions
On Wednesday, Abercrombie & Fitch eliminated 150 positions at the corporate level. The clothing retail chain is headquartered in New Albany, just outside of Columbus. In August, Abercrombie & Fitch Co. announced 60 stores in the U.S. would shut down.
»RELATED: Kmart, Sears stores to close in Ohio
There is one store location at the Mall at Fairfield Commons in Beavercreek, and another location at Kenwood Towne Center in Cincinnati. A location at the Dayton Mall also closed several years ago.
Several retailers — including The Limited, Macy’s, Sears and Kmart — have already announced layoffs or store closures in recent months, and experts predict more businesses will continue to downsize.
» RELATED: The Limited parent company files for bankruptcy
“All retailers see a bump in sales during the holiday season. Announcements of store closings would have hurt their sales during the holiday shopping season because it would have sent the wrong message to customers,” said Serdar Durmusoglu, marketing professor at the University of Dayton. “So, even if they might have made a closing decision months in advance, they might have held of announcing after the New Year.”
FIVE FAST BUSINESS READS
» Procter & Gamble's Mr. Clean shows 'sexy side' at Superbowl
» Training company expanding to facility in Miamisburg
» Talent acquisition firm grows Dayton presence with new hire
» Bob Evans CEO: Restaurants will remain open
» American Airlines to launch cheaper fares next month