Naturalizer to close 133 stores as focus shifts to digital
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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.
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.
“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.
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