Macy’s is closing 125 stores and reducing its corporate and support workforce by 9 percent, cutting approximately 2,000 jobs.
The 28 initial closures announced by the retailer include no New Jersey locations, but two locations each in neighboring Pennsylvania and New York, and closures in 17 additional states.
There are 24 Macy’s locations in New Jersey, according to the store’s website.
Multiple Macy’s campuses are closing, including offices in San Francisco, Cincinnati and Lorain, Ohio. A customer contact center in Tempe, Ariz. will also close, and customer service work will be consolidated into its Mason, Ohio and Clearwater, Fla. facilities.
According to a statement, the company engaged in a “rigorous evaluation” of its store portfolio, which included a store-level assessment of each location’s overall value to the fleet, based on consumer trends and demographics that predict profitability. The 125 stores will close over the next three years and account for approximately 1.4 billion in annual sales. Staffing will be reduced in some stores and increased in others.
Macy’s updated store strategy better serves shoppers who expect consistent experience across Macy’s brand, according to a statement.
“Our customers expect convenience and a tailored experience across all channels. We have an opportunity to build a broader yet integrated Macy’s experience within a metropolitan area by investing in our magnet stores, building freestanding Backstage locations and testing new, off-mall store formats,” said Jeff Gennette, chairman and chief executive officer of Macy’s in a statement. “The more convenient, brand-right touchpoints we have, the greater loyalty and engagement we engender. This will enable us to grow with the next generation of American shoppers.”
