With all the layoffs, I was wondering if any store closings were announced? I haven't heard of any, and that makes little sense to me.
I'm assuming that if the goal was to cut costs, eliminating some of the stores would be one of the first things the management would do.
Don't get me wrong, I'm not advocating for closings, on the contrary. I'm just wondering how it was avoided (if it was.)
1 store in my district is closing
Approximately 78 stores have closed since Sycamore took over, mainly due to expiring leases. Because the company isn't public, store closings no longer be to be announced.
Going forward, future store closings won't be publicly known.
There are store closings planned as they continue to close the less profitable locations. They closed a few in January and there are at least a few more in Q1
Sycamore’s specialty is retail. Look at their portfolio. If anything they’re going to continue carving up the corporate portions and selling them off to continue funding their retail efforts.
I honestly doubt they’ll continue downsizing their retail footprint.