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Popular women's retailer closing 30% of its stores

Popular women's retailer closing 30% of its stores originally appeared on TheStreet.

For those of us old enough to have been shopping at malls for decades, it's been awfully strange to watch retailers that have been around forever closing their doors permanently.

Perhaps one of the strangest to see go was Forever21, the fast-fashion brand once so popular that people stood in long lines at their retail stores to snap up too-cheap-to-believe deals.

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But the company was eventually overtaken by similar low-cost online retailers like Shein and Temu, and eventually had to admit defeat after declaring Chapter 11 bankruptcy twice. It closed the last of its physical locations at the beginning of May, vanishing into the ether as if it never was.

Related: Popular home retailer prepares to file Chapter 11 bankruptcy

Macy's is another mall staple that's been around seemingly forever. But as fewer people flock to department stores to buy clothing and home goods in favor of buying them online or from discount stores like Home Goods, Macy's has been forced to downsize.

The company announced in January that it would close 66 of its locations this year as part of a plan to close 150 "underproductive stores" through 2026. So, while it's still afloat, it's obvious that it's struggling in the current climate.

You may also see specialty stores like Volcom, Billabong, and Quicksilver disappear from your local mall soon. Parent company Liberated Brands filed for Chapter 11 bankruptcy in February and plans to close 100 locations, although the brands themselves will live on thanks to a well-timed save from an unnamed buyer.

Now, another mall staple has announced that it will make major cuts to its locations, which means it may vanish from your local mall soon.

The plus-sized fashion brand is about to make some big changes.Shutterstock

The plus-sized fashion brand is about to make some big changes.Shutterstock

Torrid, the plus-sized women's clothing store founded in 2001, announced during its Q1 earnings call that it was planning to downsize its retail footprint due to customer preference for online shopping.

'Digital continues to be our customers’ preferred channel, now approaching 70% of total demand," CEO Lisa Harper said during the call. "We’re accelerating our transformation to a more digitally-led business, which includes optimizing our retail footprint."

Related: Dollar Tree raises red flag about unexpected customer behavior

Harper went on to say that Torrid will close up to 180 underperforming stores this year, allowing the business to "reduce fixed costs and reinvest in areas that drive long-term growth, including customer acquisition and omnichannel enhancements."