Pier 1 Imports is closing 450 stores. Are SLO County locations on the chopping block?
It’s only a week into 2020, but things are already looking bad for retailers.
Home decor and furnishings chain store Pier 1 Imports announced Monday it plans to shutter up to 450 of its locations after a poor showing during the third quarter of 2019.
It’s the largest retail closure announced so far in 2020, and continues the national trend of retail shutdowns.
Chico’s — which also owns White House Black Market — is expected to close up to 250 its stores by 2022, according to MoneyWise.com. The closure includes Chico’s and White House Black Market locations in downtown San Luis Obispo.
Gap started closing roughly 230 of its stores in 2018, and the closures are still going. A shuttered San Luis Obispo Gap store has since been replaced by Gap-owned Athleta.
Meanwhile, the last remaining Kmart and Sears stores in the San Luis Obispo County area are expected to close by February amid their parent company’s slow death.
According to a news release, Pier 1 Imports plans to reduce its footprint “in order to better align its business with the current operating environment.” The company will also close some of its distribution centers and reduce corporate expenses.
“Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision,” Pier 1 Imports CEO and chief financial officer Robert Riesbeck said in the release. “We thank our team of hard-working associates for their commitment to Pier 1 and to serving our customers.”
The company has not yet released a list of stores slated for closures — leaving the future of local locations uncertain.
There are two Pier 1 Imports in San Luis Obispo County. One is located at 901 Rancho Parkway in Arroyo Grande, the other at 2169 Theater Drive in Paso Robles.
When reached for comment, an assistant manager at the Arroyo Grande location said “we don’t know anything at the store level yet.” Requests for comment from the Paso Robles location were directed to the company’s media representatives.
Pier 1 Imports media representatives did not return requests for comment by The Tribune on Tuesday and Wednesday.
Pier 1 Imports opened in Arroyo Grande in 2013, and in Paso Robles in 2002. A San Luis Obispo location closed in 2004, according to previous Tribune reports.
This story was originally published January 9, 2020 at 5:00 AM.
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