Macy’s will close 125 stores in the next three years
4 years, 11 months ago

Macy’s will close 125 stores in the next three years

CNN  

New York CNN Business — Macy’s said Tuesday that it will close 125 stores over the next three years, nearly one fifth of its total locations, in another blow to American department stores. Macy’s planned closings follow years of struggles at US department stores, which have been bruised by the rise of Amazon and the expansion of low-price clothing chains like TJMaxx. “Macy’s, like its major department store competitors, is working to accelerate change after a weak 2019,” said Christina Boni, analyst at Moody’s. It will also test a new store concept, which it’s calling “Market by Macy’s,” that is smaller than typical Macy’s stores and are located away from malls.

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History of this topic

Why it seems like all of America’s chains are closing
1 week ago

Why it seems like all of America’s chains are closing

CNN  

New York CNN — The retail store apocalypse stormed back in 2024. Bigger chains can buy larger quantities of goods at a steeper discount than smaller players, and they can put vast sums of money into technology and store improvements that even medium-sized retailers can’t afford. Brutal year for the middle The rise in store closures this year harkens back …

Why Macy's is shutting down dozens of stores across US
3 weeks, 5 days ago

Why Macy's is shutting down dozens of stores across US

India Today  

Popular US departmental store chain Macy’s has announced that it is planning to shut down as many as 65 stores by the end of January 2025, which is 15 more than previously planned, according to reports. Macy’s CFO Adrian Mitchell said that the closure of stores will be done in a strategic manner, with greater focus on locations that are …

US retail blackout: Walmart, Target, Costco and others to close down on this day after Thanksgiving shutout
4 weeks, 2 days ago

US retail blackout: Walmart, Target, Costco and others to close down on this day after Thanksgiving shutout

Hindustan Times  

As per the prevailing holiday traditions of US retailers, you may want to check Christmas shopping off your festive to-do list earlier than planned. Major retail giants across America, including Walmart, Target, Costco and Trader Joe’s, will remain closed for Christmas Day. Big stores closed for Christmas Walmart and Trader Joe’s are merely two such big names that will follow …

Walgreens announces plans to close 1,200 stores — but the exact locations remain a mystery
2 months, 3 weeks ago

Walgreens announces plans to close 1,200 stores — but the exact locations remain a mystery

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Walgreens plans to close about …

Walgreens plans to close 1,200 stores; its stock price sees a double-digit jump
2 months, 3 weeks ago

Walgreens plans to close 1,200 stores; its stock price sees a double-digit jump

LA Times  

Walgreens plans to close about 1,200 stores over the next three years in an effort to improve earnings and increase cash flow. Walgreens plans to close about 1,200 stores over the next three years in an effort to improve earnings and increase cash flow, the struggling company announced Tuesday. The downsizing plan by Walgreens Boots Alliance will target 500 stores …

Walgreens to close 1,200 stores across U.S.
2 months, 3 weeks ago

Walgreens to close 1,200 stores across U.S.

Salon  

Walgreens said Tuesday it will close 1,200 stores across the U.S. over the next three years to try to recover from financial struggles that include billions of dollars in losses. The company's fourth-quarter sales and profit beat Wall Street’s expectations and “reflected our disciplined execution on cost management, working capital initiatives and capex reduction,” company CEO Tim Wentworth said in …

Macy’s swings to a second quarter profit, but sales surprisingly weak as customers grow cautious
4 months, 2 weeks ago

Macy’s swings to a second quarter profit, but sales surprisingly weak as customers grow cautious

Associated Press  

NEW YORK — Macy’s swung back to a profit in its second quarter but suffered yet another sales decline as inflationary weary shoppers rein in spending, with their focus increasingly on buying the essentials. At the first 50 stores that Macy’s has overhauled, same store sales have rising for two consecutive quarters, said Tony Spring, who became chairman and CEO …

A tale of two retailers: Target reverses sales slump while Macy’s reports another quarterly decline
4 months, 2 weeks ago

A tale of two retailers: Target reverses sales slump while Macy’s reports another quarterly decline

Associated Press  

NEW YORK — Grocery aisle deals and an emphasis on affordable but stylish clothes helped Target reverse a year-long sales slump, while Macy’s on Wednesday reported another quarterly decline and said sales for the fiscal year will be weaker than expected due to a “more discriminating consumer” outlook. Macy’s posted a profit of $150 million, or 53 cents per share, …

Major US discount retailer to close as many as 315 stores as retail apocalypse gathers pace
5 months ago

Major US discount retailer to close as many as 315 stores as retail apocalypse gathers pace

Daily Mail  

Big Lots is closing up to 315 stores across multiple states as it suffers from growing financial woes. Big Lots is the latest to shutter stores this year, with the US on course to lose nearly 8,000 physical locations by the end of 2024. The discount homeware chain has identified scores of locations across several states which are due to …

Major national department store abruptly shuts four stores across several states
5 months ago

Major national department store abruptly shuts four stores across several states

Daily Mail  

One of America's biggest department stores is shutting four locations. The four JCPenney closures are across as many states - Alabama, Texas, Maine and Maryland Like rival Macy's, JCPenney has been battling a trend for Americans to increasingly shop online. Rihanna attends Fenty Beauty's 1-year anniversary at Sephora inside JCPenney on September 14, 2018 in Brooklyn, New York The 122-year-old …

Macy's ends takeover talks with Arkhouse and Brigade citing lack of certainty over financing
5 months, 3 weeks ago

Macy's ends takeover talks with Arkhouse and Brigade citing lack of certainty over financing

Hindustan Times  

Macy's is terminating its monthslong buyout talks with two investment firms, citing a substandard offer and the lack of certainty over financing. Macy's ends takeover talks with Arkhouse and Brigade citing lack of certainty over financing In announcing the end of negotiations on Monday, Macy’s alleged that Arkhouse Management and Brigade Capital Management did not meet its request for information …

Macy’s ends takeover talks with Arkhouse and Brigade citing lack of certainty over financing
5 months, 3 weeks ago

Macy’s ends takeover talks with Arkhouse and Brigade citing lack of certainty over financing

Associated Press  

Macy’s is terminating its monthslong buyout talks with two investment firms, citing a substandard offer and the lack of certainty over financing. Macy’s said that offer was within a range that its board had previously told Arkhouse and Brigade was “not compelling.” Macy’s shares tumbled 11.7% to close Monday at $16.85. “Other than seeking to monetize Macy’s real estate assets …

Store closures are rocking the US market. Here’s the restaurants and retailers shutting their doors
6 months, 4 weeks ago

Store closures are rocking the US market. Here’s the restaurants and retailers shutting their doors

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery A customer walks into …

National fashion chain in US to shut down ALL 540 stores in weeks - but will clear stock with 90% off bargains first
8 months ago

National fashion chain in US to shut down ALL 540 stores in weeks - but will clear stock with 90% off bargains first

Daily Mail  

Rue21 - the teen fashion chain that is a fixture in malls across America - is to shut all 543 US stores. Rue21 has filed for Chapter 11 bankruptcy and will close all 543 stores within four to six weeks Rue21 is closing all 543 stores and will clear its stock over the next four to six weeks in clearance …

True scale of US retail bloodbath revealed: How a 5,500 shops have closed in just one year... and even big names Walmart, Bed Bath & Beyond and Nike have suffered
8 months, 3 weeks ago

True scale of US retail bloodbath revealed: How a 5,500 shops have closed in just one year... and even big names Walmart, Bed Bath & Beyond and Nike have suffered

Daily Mail  

US retailers shut a total of almost 5,500 stores in 2023 - with major corporations like Bed Bath & Beyond, Walgreens and Rite Aid leading the pack. Total closures were 5,463 in 2023, a 30 percent increase on 2022 Bed Bath & Beyond reported it would shut 866 stores, far more than any other retailer Many retailers, like Walgreens, pointed …

Macy’s closes 150 stores – see if yours is on the list
10 months, 1 week ago

Macy’s closes 150 stores – see if yours is on the list

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Macy’s has announced plans …

Macy's to close 150 stores but expand luxury Bloomingdale's, Bluemercury outlets
10 months, 1 week ago

Macy's to close 150 stores but expand luxury Bloomingdale's, Bluemercury outlets

Hindustan Times  

Macy's will close 150 unproductive namesake stores over the next three years including 50 by year-end, the department store operator said Tuesday after posting a fourth-quarter loss and declining sales. The Macy's stores set to close account for less than 10% of its sales, the company said. “We are making the necessary moves to reinvigorate relationships with our customers through …

Macy's to close 150 stores in major turnaround effort - but will open more high-end Bloomingdale's and Bluemercury locations
10 months, 1 week ago

Macy's to close 150 stores in major turnaround effort - but will open more high-end Bloomingdale's and Bluemercury locations

Daily Mail  

Macy's will close 150 underperforming stores over the next three years, the department store said Tuesday - more than a third of locations. Macy's will close 150 stores over the next three years, the department store said Tuesday Sales at the company fell to $8.12 billion in the fourth quarter, down nearly 2 percent from a year ago. Retail analyst …

Macy's to close 150 stores and will open new Bloomingdale's locations
10 months, 1 week ago

Macy's to close 150 stores and will open new Bloomingdale's locations

Associated Press  

NEW YORK — Macy’s will close 150 unproductive namesake stores over the next three years including 50 by year-end, the department store operator said Tuesday after posting a fourth-quarter loss and declining sales. The Macy’s stores set to close account for 25% of overall square footage but less than 10% of its sales, the company said. AP AUDIO: Macy’s to …

San Francisco’s iconic Union Square Macy’s will close
10 months, 1 week ago

San Francisco’s iconic Union Square Macy’s will close

LA Times  

Macy’s massive store in downtown San Francisco’s Union Square, overlooking the holiday ice rink, will close as part of the company’s plan to shut 150 underperforming locations, about 30% of the Macy’s stores. As Macy’s announced plans to close 30% of its locations, including its store in San Francisco’s Union Square, Walmart said it will shut the doors to its …

Macy’s Simi Valley to close along with four other stores; 3.5% of workforce to be cut
11 months, 3 weeks ago

Macy’s Simi Valley to close along with four other stores; 3.5% of workforce to be cut

LA Times  

Macy’s is planning to close five stores, including the Simi Valley Town Center location. Macy’s is closing five stores, including the location at Simi Valley Town Center, and laying off 3.5% of the department store chain’s workforce, according to a statement from a company spokesperson and media reports. The decision, the person said, would allow the chain “to become a …

Macy's to slash 2,350 jobs and ax FIVE stores as it becomes latest victim of America's 'retail apocalypse'
11 months, 3 weeks ago

Macy's to slash 2,350 jobs and ax FIVE stores as it becomes latest victim of America's 'retail apocalypse'

Daily Mail  

Chain is planning to add more automation to its supply chain and reduce management Macy's will lay off around 2,350 workers and close five stores as it becomes the latest victim of America's retail apocalypse. It comes as Macy's President Tony Spring prepares to succeed Jeff Gennette as CEO next month. Macy's will lay off around 2,350 workers and close …

Macy’s puts up strong third quarter numbers, raises profit outlook and top end of full-year revenue
1 year, 1 month ago

Macy’s puts up strong third quarter numbers, raises profit outlook and top end of full-year revenue

Associated Press  

Macy’s third-quarter sales declined as customers grow more cautious with their spending, but sales and profit both topped Wall Street expectations. So even though you see the break on the prices across all of our non-discretionary categories, it’s still much higher than it has been historically and certainly in the last year.” Retail sales slipped in October, according to U.S. …

CVS says it will close NINE HUNDRED stores by the end of 2024 - 10% of all its shops - as it moves to online strategy amid rampant increase in shoplifting
1 year, 3 months ago

CVS says it will close NINE HUNDRED stores by the end of 2024 - 10% of all its shops - as it moves to online strategy amid rampant increase in shoplifting

Daily Mail  

Rival Walgreens also plans to shut 150 stores as part of a modernization drive CVS is set to close hundreds of stores across the country as it undergoes a complete retail overhaul – as more outlets move towards online sellers amid rampant increases in crime. The chain's stock price rose after the 2021 announcement stores would be closed as part …

Macy’s had to discount spring goods to entice cautious consumers and sees more warning signs ahead
1 year, 4 months ago

Macy’s had to discount spring goods to entice cautious consumers and sees more warning signs ahead

Associated Press  

NEW YORK — Macy’s heavily discounted its spring goods to make room for fall and holiday merchandise in the face of customers’ cautious spending, but the retailer’s adjusted second-quarter profits and sales still topped Wall Street expectations. “As we plan the remainder of the year and we think about 2024, we remain cautious on the pressures impacting our customer, especially …

Macy’s is opening more small stores in the West and Northeast in a bid to lure new customers
1 year, 4 months ago

Macy’s is opening more small stores in the West and Northeast in a bid to lure new customers

Associated Press  

NEW YORK — Macy’s is expanding its small-store format into the West and Northeast, looking to offer more convenient shopping, increase customer visits and add new shoppers. The new stores range in size from 30,000 to 50,000 square feet, roughly one-fifth the size of its regular department stores Macy’s said the four new stores will bear the iconic brand’s nameplate, …

New Look set to shut down more shops in weeks - is yours among those facing closure?
1 year, 5 months ago

New Look set to shut down more shops in weeks - is yours among those facing closure?

Daily Mail  

Clothes seller New Look is set to close even more of its high street stores following its decision to shutter seven of its UK outlets this winter. New Look is set to close even more of its high street stores after shuttering seven this winter Which stores have closed so far? - Rhyl’s White Rose Centre - July 25 - …

Macy’s cuts corporate headcount by 3,900 as virus takes toll
4 years, 6 months ago

Macy’s cuts corporate headcount by 3,900 as virus takes toll

Associated Press  

NEW YORK — Macy’s said Thursday it’s laying off 3,900 people corporate staffers, roughly 3% of its overall workforce, as the pandemic takes a financial toll on the iconic department store chain’s sales and profits. In February, before the virus became a pandemic, Macy’s said it would cut 2,000 jobs in its corporate office and close 125 stores. Macy’s CEO …

Macy’s says reopened stores luring back customers
4 years, 6 months ago

Macy’s says reopened stores luring back customers

Associated Press  

NEW YORK — Macy’s said Tuesday that roughly several hundred stores that have reopened are performing better than anticipated as it disclosed an update on its fiscal first-quarter results. Excluding one-time items, it said it’s looking to report a loss of $2.03 per share when it reports final first-quarter results on July 1. In a statement, Macy’s CEO Jeff Gennette …

Reopened Macy’s stores are performing better than expected
4 years, 7 months ago

Reopened Macy’s stores are performing better than expected

CNN  

New York CNN Business — Perhaps there’s some light at the end of the tunnel for battered retailers: Macy’s just revealed that its first quarter won’t be quite as dismal as expected. “Our strong digital business sales trend continued throughout May, and it is encouraging to see that as we reopen a store, the digital business in that geography continues …

Macy’s expects it lost around $1 billion in a matter of weeks. Department stores are in trouble
4 years, 7 months ago

Macy’s expects it lost around $1 billion in a matter of weeks. Department stores are in trouble

CNN  

New York CNN Business — Macy’s released its preliminary earnings for the first quarter, and it ain’t pretty. Kohl’s said earlier this week that sales fell 43% last quarter, while sales at L Brands, the parent company of Victoria’s Secret and Bath & Body Works, dropped 37%. Macy’s, Kohl’s and L Brands’ results reflect how reliant traditional apparel chains are …

Macy’s to close 125 stores, shed 2,000 corporate jobs
4 years, 11 months ago

Macy’s to close 125 stores, shed 2,000 corporate jobs

Associated Press  

NEW YORK — Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping. The corporate jobs will be shed as Macy’s closes its offices in Cincinnati and San Francisco, leaving New York as its sole corporate headquarters. Macy’s …

Target and TJMaxx are killing department stores
5 years, 1 month ago

Target and TJMaxx are killing department stores

CNN  

New York CNN Business — Department stores like Macy’s have a big problem, and it’s not Amazon: Discount retailers Target and TJMaxx continue to take their customers. Macy’s posted a sales decline of 3.9% at stores open for at least a year, the company said Thursday. Kohl’s sales at stores open for at least a year last quarter ticked up …

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