Bombay, now with 472 stores nationwide, will open 13 new unitsthrough the end of the year, while closing approximately 30 stores,and converting 20 of its KIDS/core combination stores solely to thecore format. By year-end, the company should have between 430 and435 stores.
"Our exit from the KIDS business will be managed in an orderlyphasing plan through the rest of this year, to avoid heavyinventory losses. It will lead to more productivity in the combostores," said David B. Stewart, CEO, who joined the company inJune. "It will help us identify and focus on our corebusiness."
The remaining 40 Kids stores will be converted over the next 12to 18 months. Bombay closed 13 stores while opening three in thelast quarter, continuing its migration of store locations frommalls to off-mall locations, said Elaine Crowley, CFO.
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