More Macy’s stores will permanently close this year
Closures are part of ongoing plans to shutter 125 locations
Macy's Inc. will close another seven stores in 2022 as part of a three-year plan to better address changing consumer habits that evolved during the COVID-19 pandemic.
The company, which owns Macy's, Bloomingdale's and Bluemercury, plans to close six Macy's on-mall stores as well as one Bloomingdale’s outlet store.
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The Bloomingdale’s outlet store will close by the end of January while the Macy's stores are slated to close between February and May 2022, the company confirmed to FOX Business.
"As our business evolves, we continue to optimize and reposition our store fleet to more effectively support our omnichannel sales growth and expand market share," Macy's said in a statement.
The move is part of the company's plan, announced in February 2020, to close 125 locations by 2023. At the time, Macy's said it would also cut roughly 2,000 corporate jobs and close several offices, including one of its headquarters.
Macy told FOX Business that it is committed, however, to offering impacted colleagues a role in nearby locations or severance packages.
"As it relates to underperforming mall-based stores, the lane [Phonetic] closure of certain stores allows us to maintain a physical presence in the market which is critical to our topline growth," Macy's Chief Financial Officer Adrian Mitchell told investors during an earnings call last November.
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Here is the list of the most recent store closures:
- Puente Hills, Calif.
- Streets at SouthGlenn, Colorado
- Twenty Ninth Street, Colorado
- San Jacinto (including Furniture Clearance Center), Texas
- Lee's Summit, Missouri
- Brookwood Village, Alabama
- Miromar Outlets, Florida
FOX Business' Lucas Manfredi contributed to this report.