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