What is the purpose of this announcement?

After 35 years in the clothing business, Fit for Life will be closing its Newport Store on January 10th. The announcement came after the 3rd straight year of falling profits. While customers will miss its one-of-a-kind items, store managers found it too difficult to compete with discount prices at national stores and the convenience of the new mall in Evanston. Employees will be relocated to other area stores.