LifeWay Christian Sources will shut all of its 170 brick-and-mortar stores this 12 months as retailer visitors and gross sales lag, the group introduced Wednesday.
The Nashville-based Southern Baptist publishing firm announced in January it will cut back its retail presence and reduce employees, however it had deliberate to maintain working some shops, the place it sells Bibles, books, Christian music and different faith-oriented merchandise.
“Whereas we had hoped to maintain some shops open, present market projections present that is not a viable possibility,” performing CEO Brad Waggoner stated in an announcement. “The choice to shut our native shops is a troublesome one.”
The corporate plans to shift to a digital technique as customers more and more depend on on-line buying, a problem that retailers face nationally.
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The LifeWay constructing imploded in downtown Nashville. Video exhibits a number of angles of the implosion. Video by Michael Schwab, Tom Stanford, Shelley Mays, Helen Comer, Erica Brechtelsbauer and Snaproll
“LifeWay is lucky to have a strong publishing, occasions and church companies enterprise. Our retail technique for the longer term might be a higher concentrate on digital channels, that are experiencing robust development,” Waggoner stated. “LifeWay is shifting into a brand new period with a strategic digital focus that may put together us for the longer term and permit us to raised serve our prospects.”
LifeWay stated the digital focus has allowed it to broaden its breadth, boosting interplay with customers past its retailer buyer base.
“Our world and our prospects are more and more on-line,” Waggoner stated, “Investing in a dynamic digital technique permits LifeWay to raised serve the church in its mission and solely enhances our capability to offer biblical options for all times.”
LifeWay bought its Nashville headquarters constructing in 2015 for $125 million and since moved to a brand new web site at Capitol View. When the corporate held a ribbon reducing there in 2017, it had 1,100 staff.
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