San Lorenzo, California based leading promotional neighborhood department store Mervyns announced that it is focusing on the high-growth West and Southwest markets and its strong profitable foundation of 193 stores in 10 states. Mervyns will increase its investment in existing store operations, information technology and infrastructure in California, Washington, Oregon, Idaho, Nevada, Utah, Arizona, New Mexico and parts of Colorado and Texas.
Mervyns will concentrate on its solid base of stores in the West and Southwest, and close 62 underperforming stores that represent a significant drain on the Company's overall profitability. The stores identified for closure have not been profitable in several years, and although they comprise approximately 25 percent of all Mervyns' stores, they represent only 17 percent of total sales.
As one of the first promotional neighborhood department stores, Mervyns understands the lifestyles and needs of busy families. The Company has a long and proud history of serving customers in the West and Southwest and will continue to satisfy their expectations by delivering a balanced assortment of the best quality national and private-label brands, timely fashion that is well-stocked, exceptional values and a convenient shopping experience.
"Concentrating resources on stores in the West and Southwest will allow Mervyns to be more competitive and to serve customers and communities better than ever," said Vanessa Castagna, Executive Chairwoman of the Mervyns' board of directors. "The new business strategy will enable us to invest in the future, improve our merchandise, facilities and the overall value offer shoppers. In fact, customers are already excited about the changes we have been making in stores."
marketing@alchempro.com
