Macy's closing 45 stores this year
Jan 6, 2021
Macy’s is shrinking its store count. The department store chain will be closing 45 stores as part of its three-year plan to lower store count in order to focus on more productive stores. The news was reported by Reuters.
While Macy’s stores did take a hit due to the coronavirus pandemic, plans to shrink their store count had been in place well before then. Before the lockdowns, Macy’s had planned to close 125 of its least productive stores in the next several years as a result of declining mall and brick-and-mortar traffic. In 2020, Macy’s closed 30 stores.
Omnichannel and e-commerce has become the new focus for Macy’s, as e-commerce growth exploded last year due to the COVID-19 outbreak. Today, Macy’s is expected to post a list of stores expected to close.
photo: via Macy’s Newsroom