Macy’s Is Closing Down Another 30 Stores In 2020

Macy’s is closing 30 stores in early 2020.

  • In August 2016, Macy’s said it would close 100 stores. Since then, it has been closing locations as their leases expire. When reached by Business Insider, a Macy’s representative did not comment on whether these 15 stores were part of its planned closures from 2016.
  • The representative said that regular, non-seasonal employees who are laid off and unable to find a job at nearby Macy’s stores would be eligible for severance.

Macy’s holiday sales

Macy’s reported its November and December sales results Wednesday, which showed holiday sales dropped.

“Macy’s, Inc.’s performance during the holiday season reflected a strong trend improvement from the third quarter,” CEO Jeff Gennette said in a news release. “Additionally, customers responded to our gifting assortment and marketing strategy, particularly in the 10 days before Christmas.”

In a statement sent to USA TODAY, Neil Saunders, managing director of GlobalData Retail, said most of Macy’s legacy stores “looked shabby and lacked festive cheer. In our view, they remain unfit for purpose and there is a big question mark over their long-term future.”

Saunders called the decision to shutter underperforming locations “a foretaste of things to come if Macy’s does not invest in and reinvigorate these outlets.”

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