Fashion retailer Glue Store will have its brick-and-mortar presence cut in half as owner Accent Group seeks to make the chain profitable in the coming financial year.
In an ASX announcement, Accent Group said it would exit 17 Glue Stores, leaving it with 18 in total, including the online store.
The group said the cut stores were underperforming and not achieving required returns.
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“I am pleased with our retail performance in H2 where the Company continued to experience strong momentum in Skechers, The Athlete’s Foot, Hype DC, Stylerunner, Nude Lucy, and Hoka amongst others,” Accent CEO Daniel Agostinelli said in a statement.
“The decision to exit the 17 underperforming stores will allow the Glue Store management team to focus on a profitable business comprising 18 stores including digital.”
The release did not specify which stores would be closed, nor a timeline, or how many jobs would be affected.
9news.com.au has contacted Accent Group for comment.
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