Macy’s Continues Downsizing with Another Round of Store Closures
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Get ready to say goodbye to more Macy’s locations in 2021. 😢
Nearly one year ago, Macy’s announced a plan to revive its brand by closing 125 of its department stores by 2023. That was almost one quarter of its physical footprint at the time of the announcement. The retailer began the process by closing about 30 of its locations in 2020, and now CNBC is reporting that Macy’s plans to proceed with more than 35 additional store closures in 2021.
Macy’s next round of store closures is part of the retailer’s original plan to move out of underperforming malls and focus on e-commerce and higher-performing physical locations across the US. But this year, there’s an added sense of urgency due to the pandemic’s negative impact on the department store’s fiscal health.
CNBC has shared the complete list of Macy’s stores that are set to close, and it can be seen here. Liquidation sales have already begun at some of these locations, and the remaining stores on the list are expected to begin their liquidation sales later this month.