Fashion retailer Blue Inc has reported that hundreds of jobs will be lost and stores will be closed as part of a restructuring after the UK experienced warmer weather, which affected its winter clothing sales.
Once chaired by ex-Marks & Spencer boss Sir Stuart Rose, Blue Inc has said that around 60 stores will shut out of the 232 stores across the UK and around 500 jobs will be lost.
Chief executive at Blue Inc, Steve Cohen, said: “Online is becoming an increasingly big part of the business. Given the strength of online and the changing environment on the high street we decided now was the right time to evaluate the store portfolio.
“We’re investing in areas of growth for the future, as well as continuing to support those parts of the retail estate where Blue Inc has a strong customer base.”
Regardless of store closures and job losses, Blue Inc saw a 3% increase in like-for-like sales over the festive period as online sales surged.
