Popular discount retailer Marshalls has closed two locations in California this month as it adapts to an increasingly competitive retail environment.
One of the Marshalls on Hollywood Boulevard, near famous landmarks such as the Hollywood Walk of Fame and the TCL Chinese Theatre, closed and was unreachable by phone.
An October Worker Adjustment and Retraining Notice, filed late last year, said 62 employees would be laid off. An employee at a nearby Marshalls confirmed the closure.
It also closed a location in San José, affecting 64 employees. A recorded message from the store said it had closed permanently.
Marshalls is part of TJX Companies, which also owns TJ Maxx, HomeGoods and Sierra.
Last quarter, the company reported sales growth that exceeded its own expectations.
On an earnings call in November, CEO Ernie Herrman said he was “extremely pleased” with the company's quarterly performance and sees “great potential to continue capturing market share and successfully growing TJX around the world.”
There are more than 1,200 Marshalls locations in the United States and around 150 in California, the state with the most stores.
Several stores operate in Los Angeles, including some in Sawtelle and West Hollywood.
Despite Herrman's optimism, the loss of Hollywood Boulevard Marshalls will be felt by the surrounding community and tourists who frequent the area.
The company did not respond to questions about why the location was closed.
Major retailers, including Macy's, closed stores last year as consumers, pressured by inflation, cut back on discretionary spending.
Claire's, the jewelry and accessories retailer aimed at teens, filed for bankruptcy in August. Iconic Los Angeles-born fashion brand Forever 21 also closed all of its stores last year after filing for bankruptcy for the second time.
“Rising costs and increased foreign competition have made our current business model unsustainable,” Forever 21 CEO Brad Sell said in a statement.
Marshalls is popular for selling name-brand clothing, shoes, and decor at discounted prices. Its competitors include Ross Dress for Less and JCPenney.
