Gain one, lose one.
As the North Loop in Minneapolis is gaining a Madewell denim store this year, parent company J. Crew is closing its eponymous store at Rosedale Center this month.
Store employees at the Rosedale location confirmed that the store will close Jan. 26. Signs throughout the store and at the entrance read that all merchandise is 50% off, but there are no “store closing” banners for the quitting-business sale that started Monday.
J. Crew executives couldn’t be reached for comment. The company has not announced a group of closures for 2020.
Employees at the Rosedale store said that locations in Southdale and Grand Avenue in St. Paul will remain open, as well as the outlet stores at Knollwood in St. Louis Park and Twin Cities Premium Outlets in Eagan.
The preppy retailer has been languishing for years since its heyday during the Obama administration when First Lady Michelle Obama wore J. Crew fashions to special occasions. Last year it closed 20 stores. In 2018, it closed more than 30 stores, including one in the Mall of America. Originally, the Southdale location was also on the chopping block but the company later reversed that decision.
Its store in Rosedale opened in 2008.
J. Crew, which used to rarely have sales except for seasonal change, now routinely offers discounts of 30% to 40%.
Retail analysts have said for years that the U.S. is “overretailed,” causing a contraction in retailers and malls. The U.S. has more than 23 square feet of retail space per capita compared to 4 or 5 square feet in European countries such as Germany, according to NPD Group, a research firm.
Chains such as Pier One, Macy’s, Bed Bath & Beyond, Sears, Kmart, Forever 21 and Walgreens have already announced closings in 2020. In 2019, Gap, Gymboree, Destination Maternity, Office Depot, Victoria’s Secret, J.C. Penney, Z Gallerie and Abercrombie & Fitch closed stores.
Rosedale Center is 98% leased, marketing executive Sarah Fossen said.