Macy’s is closing nearly 30 stores

Jan 09, 2020

Macy's is closing 30 stores in early 2020.

In 2016, Macy's said it would close 100 stores after it reported six consecutive years of declining sales. Since then, it has been closing these locations as their leases expire.

A representative for the company did not comment on whether this recent wave of closures was included in the 2016 plan but said that Macy's "regularly reviews" its store portfolio and would update investors on its investor day on February 5.

The representative told Business Insider that regular, non-seasonal employees who are laid off and unable to find a job at nearby Macy's stores would be eligible for severance.

Source: Business Insider 

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