Macy’s Is Closing 30 Stores in Early 2020

Update (Jan. 9, 2020)

Macy’s has confirmed another set of more than a dozen closures, bringing the total number of shutterings to roughly 30 stores.

Over the next couple of months, the retailer expects to hold liquidation sales as it downsizes its fleet of brick-and-mortar outposts. One Bloomingdale’s location is also scheduled to shut down.

FN has provided a list of the closures below.

What We Reported (Jan. 7, 2020): Macy’s Is Closing More Than a Dozen Stores in Early 2020

Macy’s is set to close more than a dozen stores early this year.

The department store chain has confirmed the closures of 15 outposts across the country, including locations in shopping centers as well as free-standing locations.

The list includes Westfield Meriden, Connecticut; Macon Mall in Georgia; Lewiston Center Mall in Idaho; University Mall in Illinois; Towne Square Mall in Kentucky; The Centre at Salisbury in Maryland; Northgate Mall, Ohio Valley Mall and Stow-Kent Plaza in Ohio; Harrisburg Mall and Nittany Mall in Pennsylvania; Rivergate Mall in Tennessee; and Cascade Mall, 54 East Main St. and 300 Pine St. (its Seattle flagship) in Washington.

In a statement to FN, a spokesperson said that Macy’s “regularly review[s] our store portfolio” and will provide an update on the store closures at its investor day on Feb. 5.

The announcement comes less than two months after the company posted its third-quarter earnings report ended Nov. 2, logging its first same-store sales decline in two years and slashing its guidance for the full year.

The Cincinnati-based firm blamed the disappointing results on the warmer fall season, coupled with slowing foot traffic, amid a broader shift from brick-and-mortar to online retail.

“After seven consecutive quarters of comparable sales growth, we experienced a deceleration in our third-quarter sales,” Chairman and CEO Jeff Gennette acknowledged in a statement. “While we anticipated a negative comp [because] we were lapping a very strong third quarter last year, the sales deceleration was steeper than we expected.”

In the past few months, Macy’s has been investing more resources in its e-commerce mobile app, which it said is on track to exceed the goal of $1.5 billion in sales, as well as enhancing its website to promote online sales and drive in-store visits.

Although Gennette said on Nov. 21 that the retailer has “confidence in our holiday strategies,” Macy’s has lowered its outlook, with adjusted earnings per share in the range of $2.57 to $2.77, below the previous guidance of $2.85 to $3.05. It also expects sales to be down 2.5% to 2.0%, versus the previous reading of approximately flat sales.

Upcoming Macy’s store closures

California: Somersville Towne Center in Antioch

Connecticut: Westfield Meriden in Meriden

Florida: The Falls (Bloomingdale’s location) in Miami, Indian River Mall in Vero Beach, Pompano Citi Centre in Pompano Beach, Seminole Towne Center in Sanford

Georgia: The Gallery at South DeKalb in Decatur, Macon Mall in Macon

Hawaii: Kings’ Shops in Waikoloa Village

Idaho: Lewiston Center Mall in Lewiston

Illinois: Spring Hill Mall in West Dundee, University Mall in Carbondale

Indiana: Muncie Mall in Muncie

Kansas: Prairie Village Shopping Center in Prairie Village

Kentucky: Towne Square Mall in Owensboro

Maryland: The Centre at Salisbury in Salisbury

Massachusetts: The Mall at Whitney Field in Leominster

Montana: Northside Center in Helena

New York: Commack Shopping Center in Commack, Broadway Mall in Hicksville

North Carolina: Hanes Mall in Winston-Salem

Ohio: Northgate Mall in Greater Cincinnati, Ohio Valley Mall in St. Clairsville, Stow-Kent Plaza in Stow

Pennsylvania: Harrisburg Mall in Harrisburg, Nittany Mall in State College

Tennessee: Rivergate Mall in Goodlettsville

Washington: Cascade Mall in Burlington, 300 Pine St. in Seattle, 54 East Main St. in Walla Walla

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