fashion

Naturalizer to close 133 stores as focus shifts to digital


Naturalizer to close 133 stores as focus shifts to digital

Naturalizer is closing approximately 133 stores by the end of this
fiscal year. The footwear brand’s parent company, Caleres, said that
it plans to re-focus its retail strategy with a larger emphasis on
digital.

“Like the rest of the industry we have seen a structural shift in
the shopping behavior of the consumer – a change that has been further
accelerated by the global health crisis,” Diane Sullivan, the
company’s chairman, president and chief executive officer, said in the
third quarter earnings report.

“With a larger percentage of Naturalizer’s sales originating
online, now is the opportune time to shed the legacy stores and evolve
it to be more profitable. We are confident this step will better align
the brand with the Naturalizer consumer of the future and position the
brand for growth and further success.”

Caleres will close stores in the U.S. and Canada, though the
company has not yet specified which locations. It will also size down
back-office infrastructure to align with the reduced store
footprint.

Image: Burst / Pexels



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