Designer Brands Closes North America Stores, Shows Progress in Q4
The retailer will close all stores at the end of business Mar. 17 with no set date to reopen, it said in reporting a final quarter in which it reduced its net loss to $7,564,000 from $45,726,000 for the final 13 weeks ended Feb. 1 as sales fell 1% to $829,620,000 from $842,077,000 with a 0.7% comp. The quarter included impairment charges of $2.9 million this year against $31.7 million last year. DBI said it was committed to paying all store employees for the next two weeks but declined to specify what it would do after that and said the ... Log in to view full article.