Macy’s to close 45 more stores forever

 

2021, as expected, isn’t going to be any different for fashion retailers!

It will take some time for the miseries and agonies to subside and Macy’s too knows this well. The American fashion retailer has announced that it plans to close 45 more stores forever.

Notably, most of these store closures will, reportedly, happen early this year.

Last year, amidst all the crises, Macy’s had announced the plans of shutting down 125 stores in a span of 3 years. The closure of 45 stores is a part of that plan.

Though the list of stores to be closed isn’t still out, as per reports, the famous Water Tower Place store on Michigan Avenue could be amongst the stores to be shut.

In an e-mail, Macy’s made it distinct that it is all about getting the correct mix of mall-based stores. It said that the retailer is committed to rightsizing its fleet of stores by focusing on existing retail locations in desirable and well-trafficked A and B malls.

With regard to the same, Macy’s fresh announcement of store closures is yet another blow for lower-end malls, which have been consistently losing big brands over the last 1 year.

The rightsizing, as Macy’s like to call it, thus continues at Macy’s!

 

 

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