The company plans to close around 370 of its more than 8,000 stores. According to a press release, remaining stores will lower prices on close to 1,000 basic items.
Job loss is also expected to be a part of the restructuring as the company looks to save between $85 million and $95 million from the cuts.
A manager at the St. Joseph store on North 22nd Street was unaware of the restructuring but said she doubted the store would be among those closed due to its sales.
The company cited decreased sales and stock prices for the restructuring.