Trendy fashion retailer Glue is shutting down half of its stores to focus on its online business and most profitable outlets. 

Glue Store’s owner, Accent Group, announced the closure of 17 underperforming  stores in an announcement to the stock exchange on Thursday afternoon.

The specific stores to be shut down and the number of jobs affected have not yet been disclosed.

Glue Store is known for stocking expensive brandware clothing, such as Adidas, Nike, Stussy, and Champion. 

‘The decision to exit the 17 underperforming stores will allow the Glue Store management team to focus on a profitable business comprising 18 stores including digital,’ Accent Group chief executive Daniel Agostinelli said. 

He said the company’s earnings before interest and taxes at the end of the 2023-24 financial year will be between $109 and $111 million.

‘I am pleased with our retail performance in H2 where the company continued to experience strong momentum in Skechers, The Athlete’s Foot, Hype DC, Stylerunner, Nude Lucy, and Hoka amongst others.’

The company will release its full year FY24 results on the 23rd of August.