Macy's joins a growing list of department store chains that are closing stores nationwide.
Even before the coronavirus pandemic resulted in temporary store closures and corporate layoffs, Macy's, Inc., who also owns Bloomingdale's and Blue Mercury, announced its plans to permanently close nearly one-fifth of its store locations over the next three years, roughly 125 stores in total. On top of that, the company is expected to cut an additional 2,000 jobs in the next three years, about 9% of its corporate and support positions. This is in addition to the 3,900 corporate and management layoffs from last summer, as stated in a news release from last June.
In 2020, they closed 29 stores (28 Macy's and one Bloomingdale's) across the country, per CNBC. But now, Macy's is forging ahead and closing 45 more stores in the year ahead in hopes to try out smaller store formats and only have a presence at top-tier malls, as noted by CNBC.
It's important to note that the following store closures have always been a part of the company's plan — well before the pandemic. While their business has certainly been impacted by the coronavirus, Macy's remains hopeful about the future unlike other major competitors, including Neiman Marcus, Lord & Taylor, and JCPenney, who filed for Chapter 11 bankruptcy in 2020. Macy's chief executive Jeff Gennette laid it all out in a news release last summer: He wrote that although the pandemic has "significantly impacted our business," they still "anticipate a gradual recovery of business." As result, Macy's plans to be "a smaller company for the foreseeable future."
As of right now, Macy's has only released a list of store closings for the first quarter of 2021. All of the stores listed below are set to close by April 30, with the exception of the Macy's at South Towne Center in Utah, which will close mid-year. Some of the liquidation sales have already started, but most are expected to start in late January and will run for eight to 12 weeks.
Related video: History of the Macy’s Thanksgiving Day parade
A List of Macy's 2021 Store Closings
Note: This list will be updated as more store closures are announced.
Phoenix: Paradise Valley Mall
El Cajon: Parkway Plaza
Richmond: Hilltop Mall
Waterbury: Brass Mill Center
Waterford: Crystal Mall
Port Charlotte: Port Charlotte Town Center
Daytona Beach: Volusia Mall
Atlanta: Greenbriar Mall
Lahaina: Hyatt Regency Maui
Idaho Falls: Grand Teton Mall
Chicago: Water Tower Place
Bloomington: College Mall
Independence: Independence Center
Joplin: Northpark Mall
Cape Girardeau: West Park Mall
New Hartford: Sangertown Square
White Plains: White Plains Galleria
Mentor: Great Lakes Mall
Mansfield: Richland Mall
Cincinnati: Tri-County Mall
Collierville: The Avenue Carriage Crossing
Jackson: Old Hickory Mall
Denton: Golden Triangle Mall
College Station: Post Oak Mall
San Antonio: Shops at Rivercenter
San Antonio: Rolling Oaks Mall
Lewisville: Vista Ridge Mall
Sandy: South Towne Center
Federal Way: The Commons at Federal Way
Spokane: NorthTown Mall
You Might Also Like