Macy’s has put in motion a plan to close 45 stores as the venerable department store continues to shrink its brick-and-mortar presence.
News of the closures was first reported by CNBC.
The latest round of store closures is part of a previously announced plan by the retail to close 125 stores by 2023, a plan that was made public in February of 2020.
A Macy’s spokesperson told CNBC that the retailer is committed to “rightsizing” its store count with a focus on its existing retail locations in malls it labeled as “A” and “B.” A list of the 45 stores to close was not immediately available.
However, NWI.com based in Northwest Indiana reported that locations at Water Tower Place in Chicago and College Mall in Bloomington will be closing.
Macy’s currently operates 544 stores under the company’s namesake brand, 34 Bloomingdale’s stores, 19 Bloomingdale’s outlets and 166 Bluemercury shops, according to the information from the retailer’s website.