Terry O'Donnell

Terry O'Donnell

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Macy's To Close Another 125 Stores

Macy's announced it will close approximately 125 stores over the next three years, and eliminate about 2000 corporate jobs. They currently have hubs in San Francisco, Cincinatti, and Lorain, Ohio. Those locations will close and operations will be consolidated to their New York and Atlanta headquarters.

CEO Jeff Gennette said:

The changes we are making are deep and impact every area of the business, but they are necessary. I know we will come out of this transition stronger, more agile and better fit to compete in today’s retail environment.

About 30 stores were already announced to be closing in 2020. Currently, Macy's has two locations in the Albany area at Crossgates Mall and Colonie Center, no word on if either store will be effected.

[CNBC]

photo: Mike Mozart, Flickr Creative Commons


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