It's hardly news that 2020 was a difficult year for retailers, but with malls effectively shuttered for most of the calendar year, department stores were feeling an extra sting—that's on top of the larger shift away from brick-and-mortar stores to online shopping. Back in Feb. 2020, Macy's announced the news that it planned to shed 2,000 jobs and close around 125 locations over the next couple of years, amounting to around one-fifth of its stores at the time. Thirty locations were shuttered last year in the first phase of closures as part of the company's plan to restructure and emerge in a stronger position. This week, Macy's announced it's closing an additional 37 branches by the spring, including one Bloomingdale's location and a Macy's Furniture Gallery. Read on to see if your store is affected, and for another store that's slimming down, check out This Beloved Home Goods Chain Is Closing More Than 40 Stores.
The majority of Macy's earmarked for closure are in shopping malls that have been in steady decline and have been hit especially hard by the lack of footfall caused by COVID-19 and its associated lockdowns.
"As previously announced, Macy's, Inc. is committed to rightsizing our store fleet by concentrating our existing retail locations in desirable and well-trafficked A and B malls," Macy's said in a statement to USA Today on Jan. 6. "To that end, we announced several store closures today that align to the guidance we provided in February 2020. These closures bring us closer to achieving the right mix of mall-based stores."
As CNBC explains, malls that are rated as B, C, and D malls bring in fewer sales per square foot than an A mall. "An A++ mall could bring in as much as $1,000 in sales per square foot, for example, while a C+ mall does about $320," they note.
The full list of Macy's, Bloomingdale's, and Macys' Furniture Gallery locations closing was released on Jan. 7, and spans stores across 19 states. These stores are slated to close by the end of Macy's first quarter, which ends in April (with the exception of the Utah store, which is scheduled to close mid-year, according to USA Today).
Read on to find out if your Macy's or Bloomingdale's is one of the new stores on the chopping block, and for more on the latest in retail, check out This Adored Chain Is Closing All of Its Stores.
Read the original article on Best Life.
El Cajon Parkway
Monterey (Macy's Furniture Gallery)
Santa Monica (Bloomingdale's)
And for more department stores in trouble, check out These 2 Beloved Department Stores "Slowly, Quietly Dying."
Brass Mill Center
Port Charlotte Town Center
And for another massive chain that's cutting down, check out This Legendary Chain Is Closing Over 1,000 Stores by March.
Hyatt Regency in Maui
Grand Teton Mall
Water Tower Place
And for another brand that's going away after more than a century, check out This Beloved Brand Is Closing All But 2 of Its U.S. Stores.
West Park Mall
White Plains Galleria
And for more retail news sent right to your inbox, sign up for our daily newsletter.
Great Lakes Mall
The Avenue Carriage Crossing
Old Hickory Mall
Post Oak Mall
Vista Ridge Mall
And for a '90s staple that's starting to shrink, check out This Iconic Clothing Chain Is Closing Its Biggest Stores.
South Towne Center
Commons at Federal Way