More than 60 “underproductive” Macy’s stores nationwide will close, including a store in Illinois, the department store said in an announcement Friday.
The closures come as the once-bustling retailer continues its shift toward a ““Bold New Chapter” Strategy that includes a greater focus on luxury brands and smaller stores. The strategy also includes closing approximately 150 “underproductive stores,” and upgrading up to 350.
The move is part of a three-year plan to close “underproductive” stores and improve other locations, Macy’s said.
“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underperforming Macy’s stores to allow us to focus our resources and prioritize investments in our future stores, where customers are already responding positively to better product offerings. and superior service,” Tony Spring, president and CEO of Macy’s, Inc., said in the statement.
The 66 stores scheduled to close spanned major metropolitan areas across the country, including Denver, Fort Lauderdale, Miami, Kansas City, St. Louis, Brooklyn, Memphis and Houston.
In Illinois, a Macy’s store was closing, at 104 White Oaks Mall in Springfield, according to the announcement. A complete list of 66 store closures can be found here.
It was not immediately clear when the stores would close.
Local
Earlier this year, several “small format” Macy’s stores opened across the country, including some in the chicago area. The stores, usually in shopping centers and malls as opposed to large shopping centers, are approximately a fifth the size of its traditional stores. As of Wednesday, 24 locations had opened across the United States.
The retailer also opened small-format Bloomingdale’s stores, called “Bloomie’s,” including one in Westfield Old Orchard Shopping Center in Skokie.
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