Reflecting the durability of its brand, Lands’ End Incorporated has announced plans to open as many as 60 new stores between now and 2023.
The Dodgeville, Wisconsin-based retailer took a space hit last year when Sears Holdings, Incorporated announced it was closing around 200 of its stores across the country.
Lands’ End, which is also known for its school uniforms, luggage, and home furnishings, rented out space in almost 180 Sears stores.
But Jerome Griffith, chief executive officer of Lands’ End, has since announced that the company is poised for opening new locations, with up to six of those stores being built in stand-alone locations by early next year.
Griffith’s announcement comes on the heels of an earnings report showing the retailer enjoying profits in 2017 of almost $40 million, a drastic upturn in fortunes after a 2016 loss of $94.8 million.
“We will put our retail destiny firmly in our own hands as Sears continues to close locations,” Griffith recently remarked in a conference call with analysts.
“Our real estate team is exploring opportunities and locations where we will have strong brand recognition, focusing on high-traffic areas and convenience,” Griffith added.
Where the new stores will be either opened in an existing space or newly built remains to be announced.
By Garry Boulard
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