World Market Closing?

[HansieDZ]

I was just out shopping and happened to see a man holding one of those large billboards along the main shopping strip here and all I caught was 30% off everything at World Market.That's all I had time to see,considering I was driving.

Has anyone seen anything about World Market stores going out of business? Is it just some of them? I did a search on these forums and didn't see anything about it.

 

Bummer. I just "discovered" this store at Christmas time and was planning to shop there more often.

[MonsterMutts]

I've never heard of it!

[kjunea]

Ours just opened a few months ago and it is doing very well, or at least seems to be full of people every time I'm there!

 

I hope they aren't closing, I love that place!!

[lovetoshopCA]

They are based in California, and here they are generally referred to as Cost Plus. They are closing 26 stores:

 

Oakland-based Cost Plus Inc. has decided to close 26 stores, exit eight media markets, reduce its work force, and part ways with its head of store operations, following a report by the specialty retailer that its same-store sales plunged 4.3 percent during the crucial holiday season.

 

Cost Plus would not disclose which stores would close, which media markets would be abandoned, and precisely how many employees would lose their jobs, or how many people would be out of work when the stores close.

 

The company did say that it would reduce its home office and distribution center staff by 18 percent. As of February 2008, Cost Plus had 808 home office and distribution center employees, which could amount to a job loss of 145 people in that category. Cost Plus accepted the resignation of Michael Allen, executive vice president-store operations.

 

Cost Plus hopes to save $21 million a year from the various cost reductions. Between now and the end of the company's 2009 fiscal year, Cost Plus expects to record a variety of impairment, write-off, severance, and other charges totaling $29 million.

[lovetoshopCA]

The eight media markets the Company plans to exit include:

• Cincinnati OH,
• Fort Lauderdale FL,
• Fort Wayne IN,
• Memphis TN,
• Minneapolis-St. Paul MN,
• Rochester MN,
• Omaha NE,
• Rockford IL.

Individual stores to be closed include: Mesa (1349 Alma School Road Mesa, AZ), Ontario (4421 Mills Circle Ontario, CA), Vallejo (105 Plaza Drive Vallejo, CA), Pembroke Pines (11960 Pines Boulevard Pembroke Pines, FL), Stonecrest (8140 Mall Parkway Lithonia, GA), Fayetteville (240 Pavilion Parkway Fayetteville, GA), Hoffman Estates (2780 Sutton Road Hoffman Estates, IL), Rockford (6650 East State Street Rockford, IL), Fort Wayne (4310 Coldwater Road Fort Wayne, IN), Germantown (20904 Frederick Road Germantown, MD), Bloomington (4250 West 78th Street Bloomington, MN), Maple Grove (12209 Elm Creek Blvd Maple Grove, MN), Minnetonka (11240 Wayzata Blvd. Minnetonka, MN), Rochester (1200 16th Street SW Rochester, MN), Roseville (2401 Fairview Ave., North Roseville, MN), Woodbury (8268 Tamarack Village Woodbury, MN), Southaven (6535 Towne Center Crossing Southaven, MS), Omaha (201 North 78th Street Omaha, NE), Papillion (7549 Towne Centre Parkway Papillion, NE), West Omaha (17101 Davenport Street Omaha, NE), Western Hills (5555 Glenway Avenue Cincinnati, OH), Tri-County (11747 Princeton Pike Springdale, OH), Kenwood (8121 Montgomery Road Cincinnati, OH), Collierville (4600 Merchants Park Circle Collierville, TN), Market at Wolfcreek (2825 N. Germantown Parkway Memphis, TN) and Tysons Corner (2051 Chain Bridge Road Vienna, VA).

[HansieDZ]

The eight media markets the Company plans to exit include:

• Cincinnati OH,
• Fort Lauderdale FL,
• Fort Wayne IN,
• Memphis TN,
• Minneapolis-St. Paul MN,
• Rochester MN,
• Omaha NE,
• Rockford IL.

Individual stores to be closed include: Mesa (1349 Alma School Road Mesa, AZ), Ontario (4421 Mills Circle Ontario, CA), Vallejo (105 Plaza Drive Vallejo, CA), Pembroke Pines (11960 Pines Boulevard Pembroke Pines, FL), Stonecrest (8140 Mall Parkway Lithonia, GA), Fayetteville (240 Pavilion Parkway Fayetteville, GA), Hoffman Estates (2780 Sutton Road Hoffman Estates, IL), Rockford (6650 East State Street Rockford, IL), Fort Wayne (4310 Coldwater Road Fort Wayne, IN), Germantown (20904 Frederick Road Germantown, MD), Bloomington (4250 West 78th Street Bloomington, MN), Maple Grove (12209 Elm Creek Blvd Maple Grove, MN), Minnetonka (11240 Wayzata Blvd. Minnetonka, MN), Rochester (1200 16th Street SW Rochester, MN), Roseville (2401 Fairview Ave., North Roseville, MN), Woodbury (8268 Tamarack Village Woodbury, MN), Southaven (6535 Towne Center Crossing Southaven, MS), Omaha (201 North 78th Street Omaha, NE), Papillion (7549 Towne Centre Parkway Papillion, NE), West Omaha (17101 Davenport Street Omaha, NE), Western Hills (5555 Glenway Avenue Cincinnati, OH), Tri-County (11747 Princeton Pike Springdale, OH), Kenwood (8121 Montgomery Road Cincinnati, OH), Collierville (4600 Merchants Park Circle Collierville, TN), Market at Wolfcreek (2825 N. Germantown Parkway Memphis, TN) and Tysons Corner (2051 Chain Bridge Road Vienna, VA).

 

 

Thank you.

That would be our store then .

[Rockfordmom]

Thank you.

That would be our store then .

and mine too

[lovetoshopCA]

I've never heard of it!

They have stores in Iowa, I am pretty sure. They are like Pier 1 only cheaper.

[mom2emma]

ARGH they are closing my stores too! I love World Market! This is very upsetting!!!

[nat1jen]

Sorry to hear that they are closing some of their stores. It's a cool place. The closest one to me is about 40 minutes away, so I don't go very often.

[HansieDZ]

I got a chance to stop in yesterday and was disappointed. The wines are EXCLUDED from any discounts;Gourmet was only 10% off;bath products were only 20% off.I didn't get a chance to look at the whole store but I *think* furniture was 30% off.

 

Nothing for me...yet