Bose is shutting down all of its US stores as retail makes a ‘dramatic shift to online shopping’


Audio equipment company Bose is set to shut down 119 locations across the globe, including all its stores in the United States.
Sacramento’s CBS affiliate reported the news of the store closures on Wednesday.
As of 2016, the company had a global workforce of 10,500 workers, according to the Telegram.
In a statement sent to Business Insider, Bose said that it would not disclose how many store employees would lose their jobs.
The statement cited the “dramatic shift to online shopping in specific markets” as the reason behind this move.
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Bose will shutter 119 retail stores across the globe, including its entire United States fleet.

The CBS affiliate in Sacramento first reported the news Wednesday. In a statement sent to Business Insider, a Bose spokesperson confirmed that it “plans to close its remaining 119 retail stores across North America, Europe, Japan and Australia over the next several months.”

Around 130 locations will remain open in China, the United Arab Emirates, India, and South Korea.

The statement noted that Bose opened its first retail store in the United States back in 1993.

“At the time, it was a radical idea, but we focused on what our customers needed, and where they needed it — and we’re doing the same thing now,” global sales vice president Colette Burke said in a statement. “It’s still difficult, because the decision impacts some of our amazing store teams who make us proud every day.”

The private audio equipment company is declining to release the number of employees who will lose their jobs in the store closures, but Bose’s statement noted that it will offer store workers “outplacement assistance and severance.”

In 2016, the Telegram reported that Bose employed 10,500 workers in North America, Europe, and Asia.

Read Bose’s full statement here:

Given the dramatic shift to …read more

Source:: Business Insider


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