So let me get this straight...they have 150 locations minimum that are in need of renovations which include carpet, paint, new wrap stand and MOLD removal, but now they are going to open 2 new concept stores for rich people expecting them to pivot to Belk brands? Impressive leadership around these parts..
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@Rim Kogers, existing stores are often in tenant spaces that are 30 - 40+ years old. They're allowing many of those stores to exist until leases expire, shut down, and open in a new space nearby - Market, outlet, and regular concept, all three - that isn't suffering from mold, broken HVAC, and cr-ppy locations. This is pretty normal in the retail marketplace in the US of A.
The new store in Tampa is a lease and a cheap build out cost of under $250,000
Definitely nothing to get excited about.
The new stores are a smokescreen for all the problems belk is having