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Author: Lexy Savvides
Beloved Clothing Store Is Closing All 354 Locations in the U.S.
A beloved clothing store is closing all 354 locations nationwide.
According to USA Today, all of Forever 21’s 354 “leased stores in the U.S. are to close by May 1,” and some already started closing in April.
“Forever 21 is one of the most recognizable names in fast fashion. It is a global brand rooted in the U.S. with a strong future ahead,” Jarrod Weber, global president for lifestyle at Authentic Brands, told USA Today in March.
“Retail is changing, and like many brands, Forever 21 is adapting to create the right balance across stores, e-commerce and wholesale,” he told the news site.
According to CNBC, Forever 21 “blamed fast-fashion e-tailers Shein and Temu for its demise.”
The company “is expected to cease all operations in the U.S. and has already begun liquidation sales at its more than 350 locations,” CNBC confirmed.
“After careful deliberation, we have made the decision to file for chapter 11 bankruptcy protection under chapter 11 of the U.S. Bankruptcy Code,” a notice on Forever 21’s website says. “We are deeply grateful for the support you have shown us over the years, but rising costs and increased competition from abroad have made our current business model unsustainable.”
The website statement added: “In connection with the filing, we are beginning the process of closing a number of stores across the U.S. Importantly, however, our stores will remain open for the time being and we will continue to fulfill customer orders placed online. We also will continue to honor customer gift cards and store credit through and including April 15, 2025.”
The company added, “All sales both in U.S. stores and the U.S. website are now final. Accordingly, we will no longer be accepting returns or exchanges. Additionally, at this point, we are no longer offering new gift cards or credit cards.”
The statement noted that the company will still have international stores. “This process applies only to Forever 21’s operations in the United States. Forever 21 stores outside of the U.S. will continue to operate business as usual,” the statement says.
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Author: Jessica McBride
Prices Are About to Jump—Here’s What 7 Major Companies Announced
Just days after rumors surfaced that Amazon might show customers how much Trump’s new tariffs add to the cost of imported goods, the fallout is already beginning—and it’s hitting your wallet. While Amazon backed off the idea, calling it a “plan that was never approved,” several of the biggest companies in retail and manufacturing say consumers should prepare to pay more—starting now.
Major companies are preparing to raise prices. While some brands have already made changes, others say the impact will roll out in the coming weeks, affecting everything from electronics to groceries.
Buzzfeed reported that brands from tech to toiletries are bracing for impact, and for many, the only solution is passing the costs on to you. Here’s what to expect:
Best Buy says electronics prices are poised to climb. Even though the company only imports about 3% of its products directly, CEO Corie Barry noted that “vendors across our entire assortment” will likely raise prices. Translation? Expect to pay more for everything from laptops to headphones.
Related: US Technology Company Shows Shocking Reality Of Tariffs Costs
AutoZone is also signaling trouble. CEO Philip Daniele didn’t mince words: “If we get tariffs, we will pass those tariff costs back to the consumer.” With virtually no car built using only U.S.-made parts, this could hit drivers everywhere.
Procter & Gamble—the maker of Tide, Pampers, and Crest—is planning price hikes as early as July. Their CFO confirmed it: tariffs are forcing their hand.
Related: National Grocers Association Issues Bleak Warning Over Tariffs
Even trendy brands aren’t immune. Adidas has warned of across-the-board increases, although the company admits it’s still trying to gauge the full cost. Meanwhile, Nintendo delayed pre-orders for the upcoming Switch 2, citing tariffs. Accessories are already seeing price hikes.
Yes, even luxury is getting squeezed. Rolex is raising its prices 3% starting in May.
Related: Major Carmaker Announces Disappointing News Amid Tariffs
And Target—a bellwether for middle America—is trying to cushion the blow by holding down prices on basics like $5 tees. But that means strawberries, avocados, and other essentials could be headed higher.
Tariff season has arrived, and companies say rising costs will likely be passed on to consumers.
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Author: Rachel Dillin