Macy's Continues to Close Stores Despite Increasing Sales: List
Macy's continues to plan to close stores as holiday sales beat forecasts and online sales continue to grow amid the COVID-19 pandemic. USA Today.
In January, Macy's Inc., which also operates Bloomingdale's and Bluemercury, announced a new round of store closures and identified 36 eponymous stores and one Bloomingdale that are expected to close by mid-year or earlier.
The closing stores are located in 19 states, most of which will lose one or two locations by April 30. Texas will lose the most outlets this round - five locations will close there.
The spate of closures is part of Macy's three-year plan to close one-fifth of its stores, or roughly 125 locations, which was first announced in February 2020, before the pandemic. As part of the plan, about 2020 stores have closed in 30.
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“We intend to close the 125 stores that we announced in 2020,” Chairman and CEO of Macy's Inc. said February 23. Jeff Gennett during the company's quarterly report. "About 60 stores have closed or will close soon, which will further reduce our presence in shopping centers."
As of October 31, Macy's Inc. there were 764 stores in total, including 544 Macy's, 54 Bloomingdale stores including retail outlets, and 166 Bluemercury stores.
Macy's fourth-quarter profit fell 52% and sales fell nearly 19%. In the context of a year in the midst of a pandemic, this was considered a good end to 2020. Digital sales were up 21% year-over-year, and 25% of those sales were done from stores, including pickup and same day delivery.
Quarterly sales were $ 6,78 billion, beating analysts' forecasts. The company said its core business is selling home goods, beauty products, jewelry and watches, growing online sales, and attracting new customers.
Macy's said on February 23 that they forecast digital sales to reach $ 10 billion within three years, and online sales will become even more profitable.
Adrian Mitchell, the company's new chief financial officer, called 2021 "the year of recovery." Gennett said the company is continuing to test new formats for smaller stores that are not located in malls. The new format is being tested in Dallas, Atlanta and Washington, DC.
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List of stores closing
The following stores are slated to close by the end of the first quarter, which ends on April 30, 2021. The Utah store is slated to close mid-year.
- 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
- Marlow Heights
- Independence: Independence Center
- Joplin: Northpark Mall
- Cape Girardeau: West Park Mall
- New Hartward: 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 (will close by mid-year)
- Federal Way: The Commons at Federal Way
- Spokane: NorthTown Mall
Bloomingdale's Closing Store:
- Santa Monica, California
Previously announced closings:
- Monterey Furniture, California
- Winter Haven, Florida
- Cambridgeside, Massachusetts
- Lima, Ohio (slated to close by late April)
- Lloyd Center, Oregon
- Southwest Plaza, Colorado
- Dover Mall, Delaware
- Park Place, Arizona
- Bloomingdale's Medinah Temple, Illinois
- Oakbrook Furniture, Illinois
- Woodfield Furniture, Illinois
- Commack, New York
- Eastland Furniture Clearance, Ohio
- Harrisburg, Pennsylvania
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stdClass Object ([term_id] => 28413 [name] => US stores [taxonomy] => post_tag [slug] => magaziny-v-ssha)Shops in the USA
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