Four new closures throughout the country have been identified for the first quarter of this year.
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: Google.com, ScrapeHero.com, and BusinessInsider.com.
I write extensively about the Macy’s retail chain on NewsBreak. My 2022 article, “Update: List of Announced 2022 Macy’s Closures,” is particularly relevant to this current piece due to detailing issues behind such strategic company decisions.
As excerpted from the article: Macy's is one of the oldest retailers in the country. Of late, numbers have fallen across the board which has necessitated the new strategies, including closings and the building of smaller, more cost-effective locations.
According to ScrapeHero.com’s most current published location count: There are 512 Macys retail stores in the United States as of November 07, 2022. The state with the most number of Macys locations in the U.S. is California, with 92 retail stores, which is about 18% of all Macys retail stores in the U.S.
It should be reiterated several closures have occurred since that last public update.
Now comes word of several more closures, scheduled for the first quarter of this year.
Let us explore further.
Per a recent report from BusinessInsider.com, titled “Macy's is Closing Another Batch of Stores in 2023 — Here's the Full List,” an updated list of closures for the first quarter of 2023 has been released.
Those closures, as listed, are the following:
- Baldwin Hills Crenshaw Plaza in Los Angeles, California
- Foothills Mall in Fort Collins, Colorado
- Windward Mall in Oahu, Hawaii
- Lakeforest Mall in Gaithersburg, Maryland
The report further states: The closures are part of a three-year restructuring plan the company announced in 2020. Macy's said at the time it would close a total of 125 stores and cut thousands of jobsto "lower costs, bring teams closer together, and reduce duplicative work," Macy's CEO Jeff Gennette said at the time. Macy's closed stores in 2020, 2021, and 2022, including seven locations in January last year. The department-store chain has been experimenting with opening smaller, trendier concept stores known as Market by Macy's, which are outside suburban shopping malls.
Analysts expect further closings this year, as a targeted Google search will verify.
This is a rapidly unfolding story. In the event of pertinent updates, I will share them here on NewsBreak.
Thank you for reading.
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