Dillard’s Closing Crossroads Mall Waterloo Location
The latest business to call it quits in the Cedar Valley is Dillard's.
The department store, located at Crossroads Center in Waterloo, will be closing at an unspecified date. While the company did not cite a specific reason for the closure, one has to figure the current COVID-19 pandemic played into the decision.
"I'm confirming the upcoming closure of our Waterloo, Iowa, store, with the final operating date to be determined," corporate spokesperson Julie Johnson Guymon said in an email Tuesday afternoon.
According to Guymon, Dillard's has approximately 65 employees in Waterloo. In the email, she said the company "will certainly work with any associate who wishes to transfer to another location."
The announcement of Dillard's pending closure in Waterloo comes just five days after the company reported a net loss of $162 million for the 13 weeks that ended May 2. Total retail sales for the quarter decreased 47 percent.
In a May 14 press release, Dillard's revealed the impact COVID-19 had on the company as the pandemic progressed. According to the press release, the company began closing stores on March 19 as mandated by state and local governments. By April 9, all 285 store locations were temporarily closed.
On May 5, the company re-opened 45 Dillard's stores in select markets where allowed. Dillard's re-opened an additional 80 stores on May 12, but they are currently operating with reduced hours.
The Little Rock, Ark.-based retailer expects to be in a net operating loss position for the fiscal year, the press release said.
In the email, Guymon did not give a specific reason for the company's decision to vacate the Cedar Valley.
"While closing in Waterloo is a difficult decision for us, we do strategically close locations from time to time," Guymon said.
According to Guymon, Dillard's opened at Crossroads Center in August of 1997. The company owns the space, having built the store as an addition to the mall prior to the opening.
It's not yet known if a new business will be taking over Dillard's vacated space at Crossroads after the closure.