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Anchor Blue to Shutter 46 Stores
June 22, 2009
As a part of its restructuring plan, Ontario, Calif.-based Anchor Blue Retail Group Inc. has announced that it will shutter 46 of its 177 stores due to poor performance. The retailer, which markets casual apparel and accessories to teenagers and young adults, will hold store closing sales at each of its 46 closing locations until all remaining merchandise is sold. "These strategic store closings will help us significantly improve operational performance as we proactively restructure our business to conform to today's market," said Thomas Sands, CEO of Anchor Blue. Anchor Blue is currently the holding company for its two subsidiaries, Anchor Blue Division and Levi's & Dockers Outlet by MOST Division.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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