J. Crew announces store closures

J. Crew has announced plans to close more stores as sales continue to plummet.

The retailer plans to close 39 stores by the end of January. That's double the number it previously planned to close.

J. Crew lost $161 million in the first nine months of this year.

The company says the store closings are part of J. Crew's transformation to a "digital first" business.

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