The department store chain will close around 45 store locations by the middle of the year.
Macy’s, which currently operates 544 stores, revealed plans at the beginning of last year that they would be closing around 125 locations that they deemed to be the least productive stores. The closes are set to happen over the next three years.
The company has commented that they are committed to: “rightsizing our store fleet by concentrating our existing retail locations in desirable and well-trafficked A and B malls. To that end, we announced several store closures today that align to the guidance we provided in February 2020. These closures bring us closer to achieving the right mix of mall-based stores.”
Thirty of the 125 stores that are set to close over the next three years were already in the process of being closed.
