Goodyear to shutter 92 underperforming retail centers
Jan. 1, 2020
Goodyear plans to close 92 of its underperforming retail locations by the end of this year.
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Goodyear plans to close 92 of its underperforming retail locations by the end of this year.
“Following a rigorous review of operating performance and local market dynamics, these company-owned outlets are not producing acceptable returns,” says Scott Vogel, vice president of retail operations for the company’s North American Tire division.
“Taking this action now will allow us to focus our attention on locations with the best long-term potential,” he notes. “It will help position Goodyear to be a stronger competitor.”
Vogel says the company is not announcing the specific store locations being shuttered due to its desire to first communicate with the roughly 500 full-time and 100 part-time workers affected by the reductions along with the property owners of leased facilities.
In addition to the strategic benefits associated with the cuts, the action is expected to eliminate about $9 million in annual losses associated with the targeted retail outlets, according to Vogel.
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