Express’ store closures starting this week: 31 locations across the U.S.

New York – Earlier this week, fashion retailer Express announced its plans to close 91 locations over the next couple of years, including 31 stores by the end of January and 35 by the end of January 2021. The first wave of closures entered into effect this weekend.

Talking to ‘Business Insider’, Express’ CEO Tim Baxter explained that this commercial network’s downsizing is part of a larger cost reduction strategy aimed at helping to bolster the ailing mall brand.

"My expectation is that we will return to a mid-single-digit operating margin through a combination of low-single-digit comp sales growth, margin expansion and cost reductions," Baxter said in a statement. "This will of course take some time, but we have a clear path."

Express kicks off the first phase of its “fleet rationalizations”

The stores are closing as part of the fashion retailer's "fleet rationalization," which Express officials announced Wednesday and includes 100 closures overall. The first 31 stores “will be closed by the end of this weekend," Express spokeswoman Alysa Spittle told ‘USA TODAY’ Friday. Another 35 stores will close by the end of January 2021 and the rest by 2022. The company has already closed nine stores in the past months.

As of November, 2, Express had 411 primarily mall-based retail stores and 215 outlet stores, according to a public filing.

Retailers will likely announce plans to close more than 100 million square feet of space in 2020 for the fourth straight year, projected real estate data tracker CoStar. That's the equivalent of about 562 Walmart supercenters.

"This year will generally be more of the same," said to ‘USA Today’ Robin Trantham, a consultant for CoStar. "We expect many companies – and many sizable companies – to announce closures."

Photo:Express official website, U.S.