Spain's Mango to Shut 450 U.S. Sales Outlets

Spanish fashion chain Mango will close 450 sales outlets in the United States early next year after ending a five-year deal to display its clothing lines at department store J.C. Penney, a spokesman said. The retail chain, which competes with Inditex brands such as Zara as well as Sweden's H&M, won't be renewing the expiring agreement and will close the outlets around February, the spokesman said, confirming a report on website moda.es. Mango will still have seven stores in the United States, including ones in New York and Miami.