Macy's to close two more locations in California [Los Angeles Times (CA)]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Los Angeles Times
The closures are part of Macy's plan to reduce its footprint by 30% by 2027, focusing on strengthening remaining stores and expanding luxury offerings. The store closures reflect a broader retail industry shift, with Kroger, At Home and Marshalls also shedding brick-and-mortar locations in recent months. Macy's plans to shutter 14 locations nationwide, including two in California, in the coming months. In California, the La Mesa and Tracy locations are slated for closure. Clearance sales will begin in mid-January and run for about 10 weeks, a Macy's spokesperson said. Closures also are planned for 12 stores across Georgia, Maryland, Michigan, Minnesota, North Carolina, New Hampshire, New Jersey, New York, Pennsylvania, Texas and Washington. “Closing a store is never easy, and we don't take these decisions lightly — but this focus enables us to deliver a stronger, more consistent Macy's experience over the long term,” spokesperson Orlando Veras said in an emailed statement.
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