In most cases, it's simply a matter of the traffic in the area no longer being sufficient to support the store. It doesn't justify the investment required to make sure customers have a great experience. |
Most locations that are closing are in declining malls or shopping areas. |
The amount of employees that wouldn't get transferred would be an extremely small number. |
Traffic in these locations is no longer sufficient to justify investment in these stores. The real estate isn't as prime as it was when the stores opened. |
We expect most will transition to other stores. |
We hope to transition as many as possible to new stores, but employees we are unable to place will receive a severance package based on their tenure with the company. |
We will try to transition many of them. |
We're very positive about the future for the company. We believe in it and we're going to keep pushing forward. |