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 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.