Macy's to close 35 to 40 stores - Cincinnati News, FOX19-WXIX TV

Macy's to close 35 to 40 stores

(file) (file)
CINCINNATI, OH (FOX19) -

Macy's announced Tuesday their plans to close 35 to 40 underperforming stores in early 2016. The stores closing represent approximately one percent of the total Macy's Inc. sales.

No word on if any Tri-State stores will close.  

The locations of the stores to be closed in early 2016 will be announced at a later date, once the company completes an analysis, the company said in a statement released Tuesday. 

“As new shopping centers are opened, however, many customers change their shopping habits and often the sales volume of a store gets divided among the new and nearby, existing centers. Each year, we prune some stores that are our weakest performers so that we can concentrate our resources on the best locations and maintain a strong physical presence. At the same time, we open a small number of new stores to fill gaps in our market coverage or where we have outstanding real estate opportunities," said Terry J. Lundgren, Macy's, Inc. chairman and CEO.

Macy’s Inc., operates 770 Macy’s stores. From 2010 through 2015 to date, 52 Macy’s stores have been closed and 12 new Macy’s stores have been opened.

Copyright 2015 WXIX. All rights reserved.

Powered by Frankly