Headlines

Journeys Shifts Away from Malls, Closing 100 Stores

The company expects to save up to $40 million through store closings

Published

11 months ago

May 26, 2023

VMSD Staff

Journeys Shifts Away from Malls, Closing 100 Stores — Photography: iStock

Photography: iStock

Journeys (Nashville, Tenn.) and its parent company Genesco announced plans to close more than 100 Journeys locations this year, according to a company press release. This is up from a previously planned 60 stores and follows a decrease of 13 percent in net sales during the first quarter.

Mimi Vaughn, Genesco CEO, says Journeys saw lower traffic and demand for various key styles this year due to inflation, lower tax refunds and easier access to discounted athletic products.

According to Vaughn, the company has opened 13 Journeys off-mall locations out of 25 pilot stores it has planned.

“We are taking swift actions to mitigate the consumer shift in the marketplace, including closing more underperforming Journeys stores, reducing our cost base further, and working to quickly refine our product assortment,” Vaughn says.

Related Topics:journeys store closings

VMSD Staff

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