Aeropostale closing at SouthPark

The Aeropostale at SouthPark mall is closing, as the mall prepares to make room in the Macy's wing for a planned H&M store.

The store is holding a 70 percent off sale to clear out its inventory. There's no word yet on whether Aeropostale is opening a replacement store in SouthPark.

Swedish fast-fashion retailer H&M is opening its third Charlotte-area store in SouthPark. The company already has a store open at Northlake Mall and another one opening January 16 at Pineville's Carolina Place.

The SouthPark store will be 20,000 square feet, H&M said. No opening date has been announced.

H&M has been growing, with rising sales, while Aeropostal has struggled. The teen-oriented retailer has reported four straight quarters of losses, and its holiday forecast calls for a larger-than-expected loss this year, according to Reuters.