Macy’s Slated to Shutter Locations in New England as Part of Nationwide Closings — See Where
Thursday, January 09, 2020
Macy’s is slated to close 30 stores across the country to kick off 2020 — including two in New England.
According to CNBC, the two regional locations are at The Mall at Whitney Field in Leominster, MA, and Westfield Meriden, in Meriden, CT.
The Macy’s at Providence Place Mall is not on the list.
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In the fiscal third quarter, Macy’s posted its first same-store sales decline in two years, and slashed its profit outlook for the year. The company attributed the sales weakness to unseasonably warm weather and soft foot traffic, saying it saw poor performance at lower-tier shopping malls.
Macy’s previously said it in 2016 that it was planning to shutter 100 stores over time. The first wave of the closures was announced in January 2017, when it released the names of 68 stores it would close. Then in 2018, it announced nearly a dozen more would close. Last year, it shuttered less than 10. Most of these closures came as store leases expired.
Retail Store Closings Are Already Piling Up in 2020
The new year is only a few days old and many of the top retailers in America are moving forward with — collectively — thousands of new store closings.
The past decade saw retailers closing stores and others completely disappear.
The latest numbers show that more than 9,200 retail stores closed in 2019 -- a record number.
