Macy’s is shuttering dozens of department stores this year, as it seeks to decrease presence in underperforming malls.
It has told the employees at about 45 of its department stores that they will close by the middle of this year.(according to a CNBC report) The closures are a part of a previously announced plan by Macy’s to shut 125 locations by 2023. The company plans to concentrate on best performing malls and even smaller stores away from malls.
In 2020, Macy’s closed about 30 locations
Currently, Macy’s operates 544 of its namesake department stores, 34 Bloomingdale’s locations, 19 Bloomingdale’s outlets and 166 Bluemercury shops, according to its website