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Macy’s to close 45 of its famous stores in 2021


The retail giant in the United States began liquidation sales in stores that are about to disappear.

January
7, 2021

2 min read


The department store chain Macy’s announced this week the closure of 45 stores this year. The cut is part of his plan to close his less profitable stores and focus on the more productive ones.

Last year, even before the closings in the United States, Macy’s announced that they would reduce the number of stores due to the fall in traffic in the shopping centers. Chain closed 29 stores in 2020 and plans to eliminate a total of 125 points of sale by 2023.

“Macy’s is committed to resizing our store fleet by concentrating our existing retail locations in desirable, high-traffic A and B shopping malls.the company said in a statement. “To that end, we announced today several store closures that align with the guidance we provided in February 2020. These closings bring us closer to achieving the right mix of stores in shopping centers.”.

The retail giant in the United States also indicated that they would clearance sales in stores next to disappear. Employees will be relocated to nearby stores belonging to the chain, or they will be compensated for dismissal. The process will take between 8 and 12 weeks.

Macy’s operates more than 750 stores, including Bluemercury, Bloomingdale’s and the premises of the same name. Last year, Macy’s closed 29 of its 544 stores, 2 of the 54 Bloomingdale’s stores and two more Bloomingdale’s furniture stores.

In November, Macy’s reported a decrease of more than 20% in quarterly sales, as consumers they cut their expenses on clothing and accessories at the mall during the pandemic. The digital sales grew 27%, But those gains weren’t enough to make up for the losses at their stores.





[ source link ]
https://www.entrepreneur.com/article/362916

#Macys #close #famous #stores

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