Store openings and Closings in 2022-23There were 6 stores closed and 8 stores opened for a gain of 2 stores.
Reitmans closed 2
Penn closed 4 and opened 5
RWCO opened 3 new Mall stores late in 2022
RW&CO. operates stores averaging 4,500 sq. ft. in premium locations in major shopping malls as well as on their e-commerce site.
Specializing in menswear and womenswear, the brand delivers versatile, well-crafted collections and exceptional brand experiences to an open and inclusive brand community.
Those closings of low profitability stores obviously cost money in F23 which should boost margins this year .
Opening new stores also cost money but presumably , if well rationalized, will increase relative profitability in F24 ( this year ).
If there are very few openings and closings in F24, those costs will decline this year.
Two of the Three RWCO opened in Q4.
Ecommerce sales increased from 26 % of sales in Q3 to 34% in Q4 of F23