Headlines

Scaling Back

Two retailers announce smaller expansion plans

Published

22 years ago

March 20, 2002

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Brookstone Inc. (Nashua, N.H.) and Goody's Family Clothing Inc. (Knoxville, Tenn.) plan to open fewer new stores in the coming year than they did in 2001.

Brookstone has announced that it will open 15 stores during the upcoming fiscal year, down from 27 last year. Brookstone is a specialty retailer of gifts and gadgets that operates 248 stores in 39 states, Puerto Rico and the District of Columbia.

Goody's said its business plan for fiscal 2002 calls for opening two new stores, relocating or remodeling four existing stores and closing six to nine stores. During 2001, the retailer opened 18 new stores, relocated nine and closed three. Goody's sells moderately priced apparel for women, men and children at 332 stores in 18 states.

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