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Waverly shuts retail stores

Waverly will close the last two of its seven Waverly Home retail home furnishings stores by the end of the year. The two stores are located in Greenvale, NY, and Princeton, NJ.

The company opened its first unit in Greenvale, NY, a suburban Long Island community in July 1996, and followed with two additional units that year in Princeton and Morristown, NJ. Four more units were opened later.

The stores were designed as retail showcases for Waverly products, from fabrics and wallpaper to home fashions, licensed product and a private label furniture program as well as a decorating service.

The decision to close the stores, said Gerald Puschel, ceo of F. Schumacher & Co., Waverly's parent, reflects "the significant growth potential for Waverly in the marketplace; and our interest is to work with those retailers who are committed to the growth of the brand. The brand is supported by strong and growing distribution channels, which are where we want to focus our resources."

The stores, he added, contributed to a heightened awareness of the Waverly brand.

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