Consignment retailers are finding it increasingly difficult to compete with online retailers, and new retailers are opening their own online stores in Toledo.
The new stores are opening at locations ranging from specialty consignment stores to grocery stores to convenience stores to specialty department stores, including a new outlet in the city’s downtown.
The Toledo Center for Consignment Retailers says it expects the new stores will create about 3,400 jobs in the first year and generate $300 million in economic impact for the city.
The new stores were announced Tuesday in the company’s quarterly update to shareholders, which is scheduled for release Wednesday.
The Toledo Center will hold a ribbon cutting for the new outlets at its headquarters, located at 1670 N. Third St., just east of Interstate 85.
The announcement comes on the heels of a similar announcement at the company in January.
The company also announced a $200 million investment to create more than 1,100 jobs in downtown Toledo.