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How bankruptcy saved Express
  + stars: | 2024-07-10 | by ( Ryan Baker | ) www.cnbc.com   time to read: +1 min
Express has been a shopping mall staple since the 1980s. In recent years, Express has been squeezed by thin margins and declining shopping mall traffic, combined with the rise of the athleisure category during the pandemic. Bankruptcy has helped Express to stay in business, get out of old leases and even given it a chance to revive its fortunes. The new joint venture, called PHOENIX, received New York court approval for the acquisition of Express on June 14. Watch the video to find out more about the rise and fall of Express — and its likelihood of rising again under its PHOENIX owners.
Persons: Michael Weiss, Eric Beder Organizations: Consumer Research, CNBC, Express, WHP, Simon Property Group, Brookfield Properties, PHOENIX Locations: New York
[1/3] Customers are seen inside the Express store in Broomfield, Colorado August 28, 2013. At risk are retailers' margins during the critical holiday shopping season and their efforts to be the go-to location for trendy fashions. Shopper demand has put a strain on apparel retailers throughout the year, boosting inventories and forcing retailers including Gap, Victoria's Secret and Kohl's, to slash prices. Deals since October and over Thanksgiving weekend were up in both frequency and discounting depth, including from clothing retailers, according to research from Jane Hali & Associates. Express' third-quarter margins are expected to fall to 29.7% from 33.22% a year earlier, according to analysts' estimates on Refinitiv.
New York CNNBusiness —We know young kids love teddy bears and cute cuddly stuffed animals. But Build-A-Bear Workshop says older consumers can’t resist them, either. Shoppers can stuff a teddy bear or another furry animal and personalize it with clothes, accessories and their own voice-recorded message. Among the older shoppers are collectors and gift buyers. Courting teens and older customers has benefits.
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