The home furnishings chain opened 13 stores and closed 20 storesin the fourth quarter, and now has 52% of its space in off-malllocations, with 48% operating in malls.
"This marks the first time we ended a quarter operating moreoff-mall stores than mall stores," said Robert Alderson, CEO. "Ourmove off-mall continues and we will accelerate the mall closingsover the next two years."
The chain will open 10 stores and close 10 stores in the firstquarter of 2007, continuing a pattern that will keep the totalstore count fairly static or slightly smaller, he said.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
