They can only close so many stores before there’s nothing left to cut. At the pace they’re going, having ten stores left in five years would feel like a miracle. This really looks like a slow death by a thousand cuts for Macy’s.
12 replies (most recent on top)
@r8
Florence, KY is not on the list (either door)
@r7 correct. Is Florence Kentucky shuttering
That’s not true. 15 years ago when we were like 600+ stores, analysts stated we were way oversaturated. Even then they said the sweet spot was roughly 350 stores. Growth in a company doesn’t always mean you’re opening new stores
@OP
I’m telling you, it’s 12-15.
What about where Macy’s is the property owner?
@f5 so is it 12-15 or 42 stores like so many ppl said i confused
@aa most definitely going to close more than 15 doors TY. Tony said it himself.
@cb Exatly js like manchester ct
Macy’s isn’t going anywhere.
As others have said, digital carries an enormous value itself (remember back a few years ago when the activist shareholders wanted to split .com off and the valuation that was projected with it).
From a stores perspective, some of our stores are in dying malls that owners neglect. Unfortunately when the cost to repair a leaking roof is 10x the revenue the store brings in, business decisions have to be made to invest those dollars into locations that property owners are investing in.
Store closures will level out. Going out of business? That is absurd. This is a multi channel company and doing well with digital sales.
I honestly can't think of any reason why it makes sense to maintain stores in dead/dying malls. They honestly should have been more proactive about this so it didn't have to be tons of stores over 3 years. Many of these malls have been dead for many many years.
They’re not going out of business. Anybody talking more than 12-15 doors closing this year, doesn’t know what they are talking about.