Maurices Opens 900th Store, Aims For 1,300
Maurices, Inc., the women’s clothing retailer that began as a small store in downtown Duluth, said this week that it has surpassed 900 locations—and it has plans for additional growth.
The announcement comes as Maurices is preparing to move its corporate headquarters into a new 11-story building that is being constructed in downtown Duluth.
Maurices announced its 900-store milestone on Wednesday as it opened a new Fresno, California location, and the company said it has plans to open 25 more by the time its fiscal year concludes in July. In all, Maurices expects to have opened 60 new stores during its fiscal year—not to mention the 80 other stores that the retailer is either remodeling or expanding. A company spokesperson said Maurices plans to maintain a similar rate of growth next year.
Maurices said Wednesday that it has a “long-term goal” to surpass 1,200 U.S. stores and have 100 locations in Canada. (It currently operates 25 Canadian locations.) A Maurices spokesperson told Twin Cities Business that the company hopes to reach its “long-term” goal within five to 10 years.
Over the past five years, Maurices has opened more than 250 stores and has seen its annual sales increase roughly 65 percent. Maurices is part of the Ascena Retail Group, which also owns such brands as Lane Bryant and Dressbarn. Maurices itself reported $250.5 million in revenue for its most recent quarter, up about 4 percent from the same period a year ago.
Maurices currently has 45 Minnesota locations, and while it doesn’t currently have plans for expanding its local footprint during this fiscal year, it’s “always looking at new locations,” a spokesperson said.
The growing company currently employs roughly 425 employees across 150,000 square feet of office space split among three buildings in Duluth—and its new building, which is expected to be completed by the end of 2015, will accommodate 600 workers. (The company’s donating one of its existing buildings to the University of Minnesota in Duluth.)