Another big retailer is shutting down some stores because of the pandemic.
DSW shoe stores parent company Designer Brands Inc. is planning to close 65 of its stores soon. That's around 13 percent of its retail locations around the country. It has not identified the stores targeted for closure, although DSW has many locations in Metro Detroit, including Taylor, Southfield, Dearborn, Troy and more.
DSW says sales have dropped more than 34 percent during the pandemic, selling nearly $2.2 billion in footware. That led to a $489 million net loss, according to reports.
Columbus Business First reports 24 of the DSW store closings will happen this year with another 41 that will be shut down over the next 4 years.
"Until (customers) come back to us for the social occasion, this is the game that we've gotta play," CEO Roger Rawlins said.
Designer Brands indicated it would eliminate 380 back-office jobs and 700 in-store jobs across its organization in July 2020, including 250 corporate roles. An additional 92 job cuts came this year.
Discover more money content on RADIO.COM
—How to track the status of your third stimulus check
—Do you have student loans? Here's how you could benefit from the new stimulus bill
—Here's how the $3,000 child tax credit works
—Celebs' first gigs: 11 surprising jobs stars had before fame
—The 10 most successful products on 'Shark Tank'
—How would a $15 minimum wage affect the economy?
—The 10 most affordable states, ranked by cost of living