Tandy to close one of its two UK stores
27/09/2018
It will continue to serve the UK market from its store in Manchester.
Explaining the decision, Shannon Greene, Tandy chief executive officer, said: "The decision to close our Northampton store was difficult, but since opening our Manchester store in October 2015, the Northampton store has not demonstrated sufficient sales growth and profitability to justify its continued operation.”
The company expects to incur a cost of approximately $100,000 as a result of the store’s closing, which will be included in its third quarter financial results, for the period ending September 30.
“We anticipate future cost savings from consolidating our UK operations into a single location will more than offset the one-time charge incurred now. Further, we expect that the majority of Northampton's customers will successfully transition to our Manchester location, with minimal loss of sales,” Ms Greene added.
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