×
83 745
Fashion Jobs
ALICE AND OLIVIA
Ecommerce Product Manager
Permanent · New York
ALL SAINTS
Business Development Manager
Permanent · Independence
L'OREAL GROUP
Buyer
Permanent · Berkeley Heights
OLD NAVY
Assistant General Manager - North Centre ii
Permanent · Missoula
OLD NAVY
Assistant General Manager - Shops @ Shadow Lakes
Permanent · Papillion
OLD NAVY
Asset Protection Lead - Erskine Village
Permanent · South Bend
OLD NAVY
Unassigned Assistant General Manager - Columbus Tanger
Permanent · Sunbury
CONVERSE
Global Partner Markets Brand Merchandise Manager
Permanent · Boston
NIKE
North America Brand Manager, Women’s Running
Permanent · Beaverton
NIKE
Product Manager, Inventory Management
Permanent · Beaverton
NIKE
North America Merchandise Manager- Nike Direct Digital Commerce-Accessories And Equipment
Permanent · Beaverton
NIKE
Senior North America Merchandise Manager- Nike Direct Digital Commerce-Kids Apparel
Permanent · Beaverton
NIKE
North America Merchandise Manager- Nike Direct Digital Commerce-Women’s Performance Apparel
Permanent · Beaverton
CONVERSE
North America Account Marketing Manager, Skate
Permanent · Los Angeles
NIKE
Distribution Center Area Manager (Apparel Project - d1 Shift)
Permanent · Memphis
NORDSTROM
Asset Protection - Security Ambassador - Topanga
Permanent · Los Angeles
NORDSTROM
Asset Protection - Security Ambassador - Metro Pointe at South Coast Rack
Permanent · Costa Mesa
NORDSTROM
Asset Protection - Security Ambassador - nj Rockaway Commons rk
Permanent · Rockaway
NORDSTROM
Asset Protection - Security Ambassador - Southpark
Permanent · Charlotte
CENTRIC BRANDS
Account Executive - Accessories
Permanent · New York
CENTRIC BRANDS
Production Manager
Permanent · Los Angeles
ATHLETA
General Manager -Woodbury Lakes
Permanent · Woodbury
Published
Jan 7, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Macy's to close more than 30 stores in 2021

Published
Jan 7, 2021

New York-based department store retailer Macy’s, Inc. revealed on Wednesday that it will permanently shutter a further 37 locations this year, including 36 namesake stores and one Bloomingdale’s location.
 

Macy's closed around 30 stores last year - Photo: Reuters - Reuters


According to multiple reports, the company said that many of the stores will begin liquidation next week, with the process expected to take between eight and 12 weeks. Another nine stores have already been closed since the beginning of the year.
 
This round of store closures is the next stage in a three-year strategy announced by Macy’s in February of last year, which will see the company close approximately 125 of its least productive store locations. Under the strategy, the retailer already closed some 30 stores in 2020, ending the year with around 540 Macy's locations.

The plan, which will also see Macy’s redirect investments into its online and mobile capabilities, is expected to save the company a total of around $1.5 billion over the course of three years.
 
In a statement cited by CBS, a Macy’s spokesperson said that the company intends to focus on high-traffic locations in line with its commitment “to rightsizing our store fleet.”
 
“To that end, we announced several store closures today that align to the guidance we provided in February 2020,” the company explained. "These closures bring us closer to achieving the right mix of mall-based stores.”
 
In the third quarter ended October 31, 2020, Macy’s reported $91 million in losses, compared to income of $2 million in the same period in the previous year. The company’s revenue for the quarter was $4 billion, down from $5.1 billion in the prior-year period.
 

Copyright © 2022 FashionNetwork.com All rights reserved.