"The store in Boston never really met our expectations," saysMeyer, "especially when compared to stores in our other urbanlocations in Chicago and New York. We learned that we need acertain amount of population density around a store which Bostondoes not have."
Syms operates a chain of 46 off-price apparel stores throughoutthe Northeastern and Middle Atlantic regions and in the Midwest,Southeast and Southwest. While Syms will take a charge ofapproximately $10.5 million associated with closing costs in thethird quarter Antoine Moreira, CEO of Syms says in a statement that"the closing should impact favorably on future profitability."
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