Mervyn’s shifts strategy, closing quarter of store base
By Staff -- Home Textiles Today, 9/7/2005 1:36:00 PM
HAWARD, Calif. -- Mervyn’s today said it will focus on high-growth markets in the West and Southwest and close 25 percent of its store base in the process.
The 62 underperforming stores slated to close by February 2006 have been unprofitable for years, the company reported in a statement today. They represent just 17 percent of total sales.
The retailer will exit Michigan and Oklahoma as well as parts of Colorado, Louisiana and Texas. It will close a single store location each in southern California, Oregon and Utah, as well as distribution centers in Plano, Texas, and West Valley, Utah.
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