The retail apocalypse was particularly bad in 2019, and only days into 2020, Macy’s has announced it’ll begin closing stores, following a trend in the industry. Macy’s will close a minimum of 28 stores, and one Bloomingdale’s as problems in retail continue.
With consumer spending so high, it’s hard to imagine a reason for store closures. “We regularly review our store portfolio and will provide an update at our Investor Day on February 5th,” the company said in a statement sent to USA TODAY.
Clearance sales will begin this month and run for eight to 12 weeks, Macy’s Media Relations Manager Julianne Bartosz said in an email to TCPalm.com, which is part of the USA TODAY Network, about the Macy’s in the Indian River Mall in Vero Beach, Florida. Most other locations to be shuttered have not yet been disclosed. Officials also steered clear of an exact number of closings, say there would be a “minimum of 28 stores” permanently closed.