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Express to close 100 stores, stock jumps 21%

Clothing retailer Express will close 100 stores by 2022, joining the growing group of retail chains that have announced large-scale closures in recent years. The announcement, part of Express’s plan to reduce costs by $ 80 million over the next three years, led the company’s stock price to jump 20.7 percent, up to $ 5.01 per share as of the market’s close on Wednesday. Express said it expects to save $ 25 million through process improvements, including inventory

The Real Deal New York

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