By Joshua Burd
The list of which Macy’s stores will be closed in the latest round of cost-cutting by the retailer will be unveiled soon after the holiday shopping season, according to a report this week.
While it’s unknown if any New Jersey locations will be on the list, a spokeswoman for the department store giant told NJ Advance Media that most of the sites will be named in late January. The rest will be revealed at an undetermined date after that, she said, adding that there is no timetable for when the stores will actually cease operations.
Macy’s announced in early August that it was planning to close another 100 stores nationwide in order to right-size its footprint and increase profits. The news comes after the company, which has 21 department stores in New Jersey, enacted a round of roughly 40 closures last year that included two in the Garden State.
Any stores that aren’t closed in early 2017 will be shut down as leases and other operating agreements expire or are amended or waived, the retailer said in a news release. In some cases, stores will be closed as the value of the real estate exceeds their value to Macy’s as a retail store.
For more, see this week’s story by NJ Advance Media.
