Major Retail Chain Planning Closures; Will Ocean County, NJ be Affected?

A major retail chain is announcing they're planning on making some store closures this year.

CNBC reports that American Eagle has announced it will be closing hundreds of its locations. Take a look at a quote from the company's CFO Mike Mathias from the article below:

Chief Financial Officer Mike Mathias said during a virtual meeting with investors that the company, which has about 880 stores, is looking to shut between 200 and 250 mostly mall-based locations in the next two to three years.

Will Ocean County stores be affected? There is no word just yet since specific locations have not been announced. But, since the quote says 250 stores are being closed out of 880, the math tells you there's about a 1 in 4 chance that Ocean County will be affected. It's also worth noting that American Eagle has locations at the Freehold Raceway Mall and Jackson Premium Outlets. So there are options! And the article does say you'll still be able to shop online.

CNBC did give some good news in the article - Aerie, which is American Eagle's sister brand that carries lingerie and activewear, will be opening hundreds of stores this year. There are currently Aerie shops at Freehold Raceway Mall and Jackson Premium Outlets, so it would be awesome to see one open at the Ocean County Mall.

Store closings are always upsetting to hear about, and my heart aches for the people who will inevitably lose their jobs. But, hearing that the company does have plans to open other stores under the brand is a ray of hope!

Are you sad to see American Eagle closing doors?

H/T: Lauren Thomas, CNBC