Macy’s will close 45 stores this year

Senior management a Macy’s yesterday confirmed the closure of about 45 stores this year in the United States, as part of the restructuring plan that entered into force in 2020 and which intends to eliminate a total of 125 stores by 2023.

The goal of the chain will be to get out of all low-performance stores, located in low-traffic malls, to focus on the units with the highest traffic, according to Reuters.

The reductions will also mean the elimination of 2,000 jobs.

The company has not yet revealed a list of stores that will close. However, Ambar Gay, vice president and general manager of Macy’s in Puerto Rico, informed the newspaper that the two units on the island will remain in operation. “No store will close,” he said in a written statement. These stores are located in Plaza Las Américas and Plaza del Caribe in Ponce, and in both, Macy’s is one of the anchor stores.

When the initial plan to close in February was announced last year, America’s largest store with 750 stores – including Macy’s, Bluemercury and Bloomingdale’s – said it was the strategy will save you about $ 1.5 billion over the next three years.

During this period, the expectation is to increase efforts to maximize its online sales platforms, move its stores to smaller spaces and introduce new brands at more affordable prices.

In 2020, approximately 29 Macy’s stores closed in the United States.