Bloomingdale Macy's among dozens slated to close
Due to overall strategic restructuring, Macy’s has confirmed that its Stratford Square branch in Bloomingdale is among dozens slated to close soon, allowing the company to focus on outlets generating higher revenue.
The Bloomingdale venue has been open since 1981. With 149,000 square feet of space, it employs 87 associates.
With this course of action, Macy’s is striving to correct a downward trend in sales and profits.
“We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape,” Macy’s CEO Terry Lundgren said. “These are never easy decisions.”
The retailer recently announced plans to close 68 of its 730 stores. Three have occurred to date, with the remainder scheduled to shutter their doors by midyear, for an estimated total of 100 closings during 2017.
Outlets planned for closure are geographically diverse, ranging from Oregon to Florida.
Additionally, 30 more Macy’s sites will conclude their run over the next few years, consumer advice and information source Clark.com recently announced.
Macy’s is not the only firm affected: USA Today reported that outlets such as Sears and K-Mart will be following suit.
“American consumers are in the mood to spend, but that may not keep the stores in your neighborhood from closing their doors,” according to the USA Today report. “Despite a 13-year high in the consumer confidence index, Americans are doing more and more of their buying online … as a result, many retailers are shutting down physical locations.”
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