Macy's (M) to Close Up to 40 Underperforming Stores

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Go back to Macy's (M) to Close Up to 40 Underperforming Stores

Macy’s Announces Plans for 35 to 40 Store Closings

September 8, 2015 4:30 PM EDT

CINCINNATI--(BUSINESS WIRE)-- Macys, Inc. (NYSE: M) today announced plans to close 35 to 40 underperforming Macys stores representing approximately 1 percent of the total Macys, Inc. sales in early 2016 as the company works to optimize its omnichannel approach to customers across America.

Physical stores remain absolutely vital to our omnichannel strategy, which provides local touchpoints and tailored merchandise assortments for shoppers in nearly every major market, said Terry J. Lundgren, Macys, Inc. chairman and chief executive officer. As new shopping centers are opened, however, many customers change their shopping habits and often the... More