Macy’s plans to close 45 department stores by the middle of this year as part of its previously-announced plan to shut 125 locations by 2023.
The retailer outlined the three-year store closing goal in February 2020.
Macy’s reportedly initially told employees about the 45 closures.
“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 told CNBC in a statement. “To that end, we announced several store closures today that align with the guidance we provided in February 2020. These closures bring us closer to achieving the right mix of mall-based stores.”
Macy’s operates 544 of its namesake department stores along with 34 Bloomingdale’s locations, 19 Bloomingdale’s outlets and 166 Bluemercury shops, according to its website.
Photo courtesy Macy’s