Norman Stockton Inc., one of the premier men’s wear stores in the U.S., will close its doors on March 27 after over a century in business.
Hill Stockton, owner and third generation of the Winston-Salem, N.C.-based retailer, told WWD Wednesday: “After 101 years, we’re shutting her down.”
Stockton attributed the closure to the recession, “the fall of tailored clothing, the Winston-Salem economy and other direct competitors commoditizing the business. These buy-one-get-four-free promotions are killing the men’s haberdashery business.”
Stockton, who closed the company’s Chapel Hill, N.C., location in May, said he will also resign his seat on the board of the National Retail Federation. He plans to exit the retail business completely and work instead as
a fundraiser at a local private school.
You May Also Like
Stockton believes the closure of Norman Stockton will hurt the Winston-Salem community. “Independent stores are part of what makes up a community’s charm,” he said. “Now there’s just going to be homogenization with the Jos. A. Banks and Gaps. It’s sad.”
Norman Stockton carries high-end men’s brands including Ermenegildo Zegna, Hickey-Freeman, Canali and Burberry and has been a leader in custom clothing.