A beloved shoe store now makes an unexpected closure in California as it announces the shutter of one of its 250 locations.
Aldo is the latest major retailer to close a San Francisco store as the city continues to struggle to attract shoppers, reports The-Sun.
Aldo’s final day at the San Francisco Centre in California is January 21.
The company has urged shoppers to visit its other location at Stonestown Galleria, according to The San Francisco Chronicle.
The Stonestown Galleria location is approximately 10 miles from the San Francisco Centre.
Aldo has yet to comment on the reason for its upcoming departure from the San Francisco Centre.
However, foot traffic at that location was not what you would expect from the country’s biggest mall, according to The San Francisco Chronicle.
The once billion-dollar mall has lost $910 million in value between 2016 and 2023, according to its most recent appraisal.
Westfield and Brookfield, owners of the property, released control to lenders last year confirming low sales.
Fewer customers visiting the mall also pushed their decision.
Aldo is not the only company to close a store at the San Francisco Centre.
There has been a mass exodus from the mall in the last year, with stores including Adidas, Lego, Hollister, and Nordstrom also shuttering.
The clothing store J. Crew has also decided to shut down for good on January 22.
An employee for that store revealed that the lease was about to expire, and the retailer didn’t want to renew it, SFGATE reported.
Thirty staff members will be impacted by the sudden closure.
While some of the employees will be transferred to other stores in the area, others had to be let go.
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Other Economy News Today
A popular sports retailer now makes unexpected closures as it announces a whopping 125 stores will now shutter.
Champs Sports is an American sports retail store, it operates as a subsidiary of Foot Locker.
Products sold at Champs Sports include apparel, equipment, footwear, and accessories.
As of June 2019, there were 540 store locations found throughout the United States, Canada, Puerto Rico, and the U.S. Virgin Islands.
However, the company says it has planned to close 125 stores across the country over the course of 2024.
The athletic-wear retailer kicked off the mass closure by shutting one of its stores down this week.
The Champs location at the Ocean County Mall in Toms River, New Jersey, was expected to close on January 14, local outlet Patch reported.
The shutdown comes amid an even larger mass closure by Champs’ parent company, Foot Locker.
Foot Locker announced in March that it plans to close a whopping 400 stores by the year 2026.
While it’s unclear exactly why the Toms River branch of Champs Sports closed down, Foot Locker’s previous announcements offer clues, reports The-Sun.
The company said it plans to shut “underperforming” locations, particularly those in malls.
Instead, it plans to focus on standalone stores that are less dependent on “anchor” stores, the big box chains that drive traffic to shopping malls.
When anchor stores like Macy’s or JCPenney close, smaller chains like Foot Locker and Champs take a major hit, as fewer customers are passing by their locations.
The footwear business has also suffered as manufacturers like Nike move toward direct sales, per TheStreet.
That means fewer of the popular brand’s shoes are available — the company cut back Foot Locker’s allocation.
Foot Locker’s CEO and president Mary Dillon said in an August earnings call that Champs was being impacted by the change.
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Also Read: A Beloved Clothing Store Now Makes Unexpected Closures
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