Store Closings: Two Retailers Shutter 150 Stores in 2010
By September, supermarket retailer Winn-Dixie Stores will shutter 30 underperforming stores and cut at least 120 positions in addition to those lost as a direct result of the store closings. Jones Apparel Group closed 41 locations in the second quarter and plans to close an additional 80 unprofitable stores by the end of the year.
Jones Apparel Group has already closed 41 locations in Q2, ending the quarter with 880 stores, including acquired Stuart Weitzman locations. Consistent with its stated plans, the company will shutter another 80 stores by the end of 2010. During the second quarter Jones Apparel also completed the acquisition of a 55% interest in Stuart Weitzman Holdings, a designer of women's footwear, and entered into an exclusive licensing and distribution agreement with G-III Apparel Group for Andrew Marc men's clothing.
Venerable supermarket retailer Winn-Dixie Stores will close 30 stores, consolidate its four operating regions into three and reduce both its field and corporate workforce levels by 120 positions, in addition to those lost due to the store closings. The company expects to save between $12 and $17 million through these actions, which it estimates will be completed by September 2010.
The grocery retailer currently operates 514 stores in Florida, Alabama, Louisiana, Georgia and Mississippi. CEO and president Peter Lynch said "We continue to operate in a particularly difficult economic and retail environment in the Southeast. To respond to these business and economic conditions, we have thoroughly reviewed our retail operations and support structure and have decided to exit certain retail locations and reduce our corporate and field support staffs."
Jones Apparel Group has already closed 41 locations in Q2, ending the quarter with 880 stores, including acquired Stuart Weitzman locations. Consistent with its stated plans, the company will shutter another 80 stores by the end of 2010. During the second quarter Jones Apparel also completed the acquisition of a 55% interest in Stuart Weitzman Holdings, a designer of women's footwear, and entered into an exclusive licensing and distribution agreement with G-III Apparel Group for Andrew Marc men's clothing.
Venerable supermarket retailer Winn-Dixie Stores will close 30 stores, consolidate its four operating regions into three and reduce both its field and corporate workforce levels by 120 positions, in addition to those lost due to the store closings. The company expects to save between $12 and $17 million through these actions, which it estimates will be completed by September 2010.
The grocery retailer currently operates 514 stores in Florida, Alabama, Louisiana, Georgia and Mississippi. CEO and president Peter Lynch said "We continue to operate in a particularly difficult economic and retail environment in the Southeast. To respond to these business and economic conditions, we have thoroughly reviewed our retail operations and support structure and have decided to exit certain retail locations and reduce our corporate and field support staffs."