Wolverine Worldwide Will Close 140 Stores to Improve Profitability

Wolverine Worldwide will close 140 retail locations as part of an effort to make its store operations more profitable. The closures, mostly Stride Rite stores, will happen over the next 18 months, the footwear giant announced yesterday. The pending closures are part of a plan to improve overall profitability and address a fundamental shift in consumer shopping behavior. The specific locations that will close haven't been released.