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0 0.00108173076923081 0.00228365384615382 0.00222355769230772 -0.00174278846153841 -0.000489783653846187 0.00330528846153853 0.00868389423076919
Stock impact report

Forever 21 store closures accelerated by competition from Shein and Temu [FOX Business Network]

Simon Property Group, Inc. (SPG) 
Last simon property group, inc. earnings: 2/4 07:30 am Check Earnings Report
US:NYSE Investor Relations: investors.simon.com
years of economic pressures and relentless competition in the fast fashion space. F21 OpCo, the operator of Forever 21 stores and licensee of the brand in the United States, filed for bankruptcy protection in the Bankruptcy Court for the District of Delaware for the second time in six years on Sunday. "We have been unable to find a sustainable path forward, given competition from foreign fast fashion companies, which have been able to take advantage of the de minimis exemption to undercut our brand on pricing and margin, as well as rising costs, economic challenges impacting our core customers, and evolving consumer trends," F21 OpCo CFO Brad Sell said in a statement. The company said while it is winding down its U.S. operations, it continues to seek a buyer for some or all of its assets. Sarah Foss, bankruptcy expert attorney and Head of Legal at Debtwire, believes it's "unlikely that a white knight will emerge to purchase all or a portion of its retail locations." According Show less Read more
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