An e-mail memo from President and Chief Operating Officer Chris McCormick obtained by the Times Record Newspaper of Brunswick indicates the catalog retailer missed its sales targets by 10 percent or more. And the new year isn’t looking any better.
McCormick says the company plans to offer voluntary retirement incentives and will only open two of eight previously planned new stores next year. But those cost-saving measures may not be enough to avoid layoffs.
McCormick says decisions will be made after the holidays.