Macy’s Closing More Stores, Opening New Type of Store
Macy's announced yesterday that it will be closing 125 stores, eliminating corporate positions, and implementing a new plan, according to 6ABC, as it struggles to compete against more and more people shopping online.
What does this mean for our local stores? We don't know yet. Macy's says they will close their "least productive" stores over the next three years. A list of the endangered locations has not been released yet. Thirty stores are already in the process of closing.
The new plan that will be put into place is testing a new type of store called, Market by Macy's. It would be smaller than your average Macy's, and wouldn't be in malls. "Market by Macy's will feature a mix of curated Macy's merchandise and local goods, as well as local food and beverage options and a robust community events calendar," according to the article. The first Market by Macy's will open in Dallas tomorrow (Thursday, February 6th).
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