CHAPEL HILL, NC (BRAIN)—Performance Bicycle cut staff earlier in the week, according to a report in the Charlotte Observer.
"We took actions this week to bring our expense structure in line," Performance chief executive officer Jim Thompson told the Charlotte Observer. "Right now we're all in a difficult soup together as a retail sector."
Thompson wouldn't say how many jobs were cut, but he did say Performance has opened four new stores this year despite the rough economy, according to the Charlotte Observer. The new stores are located in Chapel Hill, North Carolina, San Mateo, California, Portland, Oregon and Seattle, Washington.