Macy’s Inc. said it would close 35 to 40 underperforming stores early next year as the company seeks to refine its omnichannel approach.
Terry Lundgren, Macy’s chairman and chief executive officer, said: “Physical stores remain absolutely vital to our omnichannel strategy, which provides local touchpoints and tailored merchandise assortments for shoppers in nearly every major market. As new shopping centers are opened, however, many customers change their shopping habits and often the sales volume of a store gets divided among the new and nearby, existing centers.”
Lundgren noted that each year the company prunes some of its weakest doors to concentrate on its best locations.
Macy’s, which operates 770 stores under its namesake banner, said the stores set to be shuttered represent about 1 percent of the total company’s sales. The locations set to be closed will be identified at a later date.