Mervyns to close 62 stores to focus on gainful markets.

HAYWARD, CALIF. -- Earlier this month, Mervyns announced the company would close 62 stores, or one-fourth of its total number, by February 2006. These closures will allow Mervyns to concentrate on its other 193 more profitable stores in its West and Southwest markets. The stores identified for closure, though they comprise a quarter of all stores, only account for 17% of total sales.

"Concentrating resources on our stores in the West and Southwest will allow Mervyns to be more competitive and to serve our customers and communities better than ever," said Vanessa Castagna, executive chairwoman of Mervyns' board of directors. "The new business strategy will enable us to …