Macy’s will close 45 stores this year

The top management of Macy’s yesterday confirmed the closure of approximately 45 stores in the United States this year, as part of the restructuring plan that went into effect in 2020, with which it plans to eliminate a total of 125 stores by 2023.

The chain’s goal is to move out of all underperforming stores in low-traffic malls and focus on those with the most traffic, according to Reuters news agency.

The cuts also mean cutting 2,000 jobs.

The company has not yet disclosed a list of stores that will close. However, Ambar Gay, vice president and general manager of Macy’s in Puerto Rico, told the newspaper that the two offices on the island will continue to operate. “Neither store is going to close,” he said in written statements. These stores are located in the Plaza Las Américas shopping center and in Plaza del Caribe in Ponce, and Macy’s is one of the anchor stores in both.

When the original closing plan was announced last February, the largest department store company in the United States with 750 stores – including Macy’s, Bluemercury and Bloomingdale’s – said it was. strategy would allow you to save about $ 1.5 billion over the next three years.

During this time, it is expected that more efforts will be made to maximize online sales platforms, move stores to smaller spaces and introduce new brands at more accessible prices.

By 2020, approximately 29 Macy’s stores will be closed in the United States.