Michael Kors Announces Store Closures; Payless Closing Additional Stores

ST. LOUIS (KMOX) – Michael Kors is the latest mall-based retailer to announce plans to shrink its footprint.

Michael Kors Holdings says it will close up to 125 stores over the next two years.

The affordable luxury retailer says sales at older locations dropped in the latest quarter, and investors are disappointed with projections for the current quarter.

There are four Michael Kors stores in the St. Louis region, at the Galleria, Plaza Frontenac, West County Center and an outlet store in Chesterfield.

Michael Kors has 960 stores worldwide.

A company spokeswoman has declined to say which 125 stores may be on the chopping block.

Payless

Payless ShoeSource unveiled a second round of store closings as its bankruptcy reorganization moves forward, bringing the total number of locations to be closed this year to more than 800.

Payless filed for Chapter 11 bankruptcy in April and said it was closing about 400 locations, including 378 in the U.S.

This additional list includes Payless locations in Maplewood and at the Galleria, according to USA Today.

Follow us on Twitter | Like us on Facebook

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS St. Louis

Shop KMOX Apparel
KMOX Podcasts
High School Spotlight

Listen Live