Michael Kors Closing 125 Stores Across US
Luxury retailer Michael Kors is the latest to announce store closures in 2017 as what industry trend-watchers are referring to as “Retailpocolypse,” continues. The brand released its latest fiscal report yesterday, which included mention of plans to shutter somewhere between 100 and 125 of its underperforming stores over the next two years.
“Fiscal 2017 was a challenging year, as we continued to operate in a difficult retail environment,” stated Chairman and CEO John D. Idol. “Looking ahead, as we expand the fashion innovation in our accessories assortments, right-size our store fleet and elevate our store experience, fiscal 2018 will be a transition year in which we establish a new baseline before returning to long-term growth.”
The three Michael Kors locations in Central Ohio can be found at Easton Town Center and at the Tanger Outlets in Jeffersonville and Columbus. The company has not yet announced which of their locations will be closing.
For more information, visit www.michaelkors.com.