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Linked Story:

LifeWay to reduce 'brick-and-mortar channel'

NASHVILLE (BP) -- In light of "an accelerated rate of erosion" at "brick-and-mortar" stores, LifeWay Christian Resources President Thom Rainer has announced that some LifeWay stores will be closing. The number of stores to close and the timing of those closures has not been announced. Rainer wrote in a Jan. 15 email to all LifeWay employees, "We prayed and hoped that our investments in and commitments to the LifeWay stores would prove fruitful. That just has not been the case. To the contrary, we not only continue to see an erosion in the brick-and-mortar channel, we have seen an accelerated rate of erosion in recent months. It was our hope that greater traffic would result in greater sales, and that with our expense reductions and product cost savings, we would be able to offset sales declines. That hope has not been realized with the declines we have seen since September. Read More