Department stores got rid of 600 jobs in April alone.
Oh, to be a sporting goods retailer in these turbulent times.
The retailer has already laid off 165 employees.
Eastern Outfitters is the parent company of Eastern Mountain Sports and Bob’s Stores.
Still, the retailer posted solid third-quarter results.
The road to Chapter 11 is paved with good intentions. Here’s where retailers lose their way.
Net sales were $241.4 million, a 0.4 percent gain over the comparable period last year and a beat on estimates for sales of $238.3 million.
Eastern Outfitters LLC, a new holding company with $400-million-plus in annual multichannel revenue, will be headquartered in Connecticut.
The past year has brought a wave of hurdles for retailers to clear. These are the signs that it’s time to throw in the towel.
The big-box retailer’s efforts to save several hundred of its stores after filing for bankruptcy in March have proven futile.