RETAIL BLUES: Michael Kors plans to shutter 100 to 125 stores.

Michael Kors said Wednesday it will close 100 to 125 full-price stores over the next two years. The company had 827 retail locations as of April 1.

The closures are intended to improve profitability, Michael Kors said. The retailer anticipates ongoing annual savings of $60 million as a result of this plan but will record a $125 million charge.

Michael Kors, among many of its peers in the retail space, has been hurt by lagging sales and dwindling foot traffic as more shoppers choose to ring up purchases online. Further, the retailer has had a difficult time marketing its products at full price.

That’s a sure sign that a designer has lost his cachet.