Forever 21 to shrink Birmingham store
US fashion retailer Forever 21 is planning to downsize its first UK store less than eighteen months after it opened.
The company is to sub-let part of the Birmingham store in the city’s Bullring shopping centre to other retailers as it reins back on its UK expansion plans.
It has been reported that the Birmingham store lost nearly £2 for every £3 of sales in the four months after opening in November 2010. In addition, the company made a UK pre-tax loss of £1.86 million in the year to 26 February 2011 as a result of its investment in establishing the UK business.
Larry Meyer, Forever 21 executive vice president, told The Independent: "We are currently evaluating options with the landlord to improve the productivity of the space in our Birmingham store."
Forever 21, which also operates stores in London and Dublin, said last summer that it aimed to open 100 UK stores within five years.
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