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By Lauren Thomas, CNBC •
Updated on January 6, 2021 at 12:54 pm
Bruce Leighty | Photolibrary | Getty Images
Macy s is closing dozens of department stores this year.
The closures are part of a previously announced plan by Macy s to shut 125 locations by 2023, which the retailer outlined last February.
department stores this year, in a bid to move out of underperforming malls and trim a real estate empire that isn t as valued as it once was.
Liquidation sales have already started at some of the locations that are closing. The rest are slated to start later this month.
(See a full list of the closing stores and recently closed locations below.) In 2020, Macy s closed about 30 locations.
By Valerie Hernandez
Jan 7, 2021
Many businesses have been affected by the coronavirus pandemic and Macy s just announced that more locations will close this year. Macy s notified the employees at about 45 of its department stores that they will close by the middle of this year. The store closures are part of Macy s previously announced plan to shut down 125 locations by 2023. A spokeswoman told CNBC in a statement,
“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. To that end, we announced several store closures today that align to the guidance we provided in February 2020. These closures bring us closer to achieving the right mix of mall-based stores.”
Reply
(David Allen/Patch)
FEDERAL WAY, WA Macy s has announced that they will be closing 36 stores by the end of the first quarter, including the Commons at Federal Way.
The closure is part of a broader move by Macy s to close 125 locations over a three-year period, according to USA Today. The move represents about a fifth of Macy s remaining stores. Already Macy s closed 30 stores last year as part of the three-year plan.
As USA Today reports, this week Macy s named several dozen stores which will be closing by April 30. That list includes the Federal Way store. The only other store closing in Washington is in Northtown near Spokane.