(WCMH) – Clothing and accessories retailer Michael Kors is closing 100 to 125 stores, the company announced Wednesday.
The closings will take place over the next two years.
The company did not specify which stores will close or how many employees will be affected.
The closings are expected to eventually save the company around $60 million per year.
Sales fell in the company’s most recent quarter and the outlook is worse than expected.
The company has more than 800 stores.