Modell’s will close 24 stores — including five in New Jersey and eight in New York — and search for outside investors in a bid to save the 140-store sporting goods chain, CEO Mitch Modell told Fox Business. The family-owned New York based chain has struggled after a difficult 2019 saw it lose $50 million in sales and increased competition online and off, and has been working with vendors and landlords to try and save the 130-year-old firm.
INC (International Concepts Shoes) is currently Macy’s No. 2 vendor among all women’s shoes, accounting for more than $100 million in annual sales. Three years ago, the brand wasn’t available in Macy’s, the chain’s management told analysts.