Fashion retailer Express Inc. is reportedly considering various options, including Chapter 11 bankruptcy, as it faces increased competition in the fast-fashion space. But its struggles have been a long time in the making, retail analysts say.
Express, which Bloomberg reported last week was in talks with lenders to help finance a possible bankruptcy process, has grappled with lower demand for multiple quarters as consumers cut back on discretionary spending or funnel dollars to e-commerce giants like Amazon or Shein. Express’s CEO Tim Baxter resigned in September a day after Express reported net sales for the second quarter of fiscal year 2023 fell 6% year-over-year to $435.3 million. The company’s new CEO, Stewart Glendinning, told…
