Macy's closes another 150 stores in the United States

The retail chain Macy’s recently announced the closure of another 150 stores in the United States in the coming years.this decision is based on the significant challenges that the company has had in recent years, mainly due to the poor performance of its stores driven by the change in its customers’ consumption.

Many retail chains since last year have faced the difficult decision of closing several of their locations first due to the rise in retail theft, high inflation that raised prices and turned consumers away from discretionary spending, and the rise or transition to online shopping.

According to the statement from the Macy’s board of directors, it is emphasized that “although these stores occupy valuable real estate space for the company, “Their performance has not been comparable to that of other locations.”

In 2010 alone, The chain had approximately 850 stores throughout the country. This meant that between 2014 and 2015 it reached annual revenues of $28,000 million dollars; However, it has been confronted by the challenging success of competition, especially from large online retailers such as Amazon.

Finally, although the closures are planned to take place in the coming years, Macy’s notified that before the end of 2024 at least 50 stores will no longer be operational.

Keep reading:

• The elegant house that Amazon sells for $48,000: it has three bedrooms
• Amazon sells it for $70 but at Aldi you can get it for $20: offer
• 10 products on sale at Sam’s Club in October