Younkers' parent company to close 40+ stores in 2018
The parent company of Younkers plans to close at least 40 company stores in the next year, according to a Thursday morning press release.
The Bon-Ton Stores, Inc. did not announce which stores will close. The company also owns stores such as Boston Store and Carson's.
There are currently Younkers stores in Marquette Township and Marinette, Wis.
"We expect to implement a significant store rationalization program and plan to close at least 40 locations through 2018," said William Tracy, president and CEO, in the press release. "This will enable us with moving forward with a more productive store footprint and redirecting capital expenditures toward investments designed to drive sales growth."
The company said total sales in its third quarter decreased 7.6% to $545.3 million, compared with $589.9 million in the third quarter of 2016.