Macy’s Will Close Up To 40 Stores In 2016

Macy’s has plans on shutting down more stores in early 2016. Up to 40 Macy’s stores could be closed down for good, according to CNN. As of right now, the company has not said which Macy’s locations will be closed down

Over the last few years, Macy’s has closed down 52 stores, but they have also opened up 12 new Macy’s. Even though the company is closing up to 40 Macy’s locations next year, six new Macy’s Backstage locations will be opening. This is where Macy’s will sell discounted merchandise.

According to Market Watch, when Macy’s closes down the locations, it will represent around 1 percent of the total Macy’s Inc. sales. The closures come at a time when Macy’s is trying to optimize its omnichannel approach to its customers across the United States.

Terry J. Lundgren, Macy’s, Inc. chairman and chief executive officer, said that physical stores are vital for the company’s omnichannel strategy. He continued to say that each year the company prunes stores that are among the weakest performers, which allows them to focus resources on their best locations.

Lundgren said that the company is one of the largest and fastest-growing digital platforms in the country, and they offer robust apps and mobile-enhanced websites.

Macy’s is currently performing an analysis, and eventually the company will announce which stores will be closing down. The stores’ total annual sales volume is expected to be around $300 million.

Macy’s plans on announcing the closings publicly, but before they announce which locations will be closing, the company will communicate with associates at those stores. The company said it is committed to treating its employees with respect and openness. Associates at the Macy’s stores that will be closing may be offered employment at nearby stores. Employees will be offered severance benefits, if they are eligible, after being laid off due to their store closing.

Macy’s Inc. has corporate offices located in New York and Cincinnati. The company is one of America’s premier retailers. In 2014, Macy’s had sales of around $28 billion. There are more than 800 Macy’s locations in America, and the company operates stores in 45 states. There are also stores in Guam, the District of Columbia, and Puerto Rico.

Aside from its Macy’s brand, Macy’s Inc. operates under the names of Bloomingdale’s Outlet, Bloomingdale’s, and Bluemercury. The websites bluemercury.com, bloomingdales.com, and macys.com are operated by Macy’s Inc., and there is a Bloomingdale’s in Dubai, which is operated by the Al Tayer Group.

[Image by Nicholas Eckhart/Flickr]