The entrance to a Macy’s division store.
Jeffrey Greenberg | Universal Images Group | Getty Images
Macy’s has notified the staff at about 45 of its malls that they’ll shut by the center of this 12 months, CNBC has realized.
The closures are part of a beforehand introduced plan by Macy’s to close 125 locations by 2023, which the retailer outlined final February.
“As previously announced, Macy’s is committed to rightsizing our store fleet by concentrating our existing retail locations in desirable and well-trafficked A and B malls,” a spokeswoman instructed CNBC in a press release.
“To that end, we announced several store closures today that align to the guidance we provided in February 2020,” she mentioned. “These closures bring us closer to achieving the right mix of mall-based stores.”
Liquidation gross sales have already began at some locations, and the remainder are slated to begin later this month. An inventory of the roughly 45 locations couldn’t instantly be obtained by CNBC.
Macy’s operates 544 of its namesake malls, together with 34 Bloomingdale’s locations, 19 Bloomingdale’s retailers and 166 Bluemercury retailers, in keeping with its web site.
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