Macy's announced today that it is shutting down 65 stores in 2017 and eliminating an estimated 10,000 jobs.
Retailers like Macy's just haven't figured out how to battle online sales. Just this morning while passing by the Macy's store a random thought came to me about what Macy's could do to boost traffic and sales. They really don't have a clue. Hey, Jeff Gennette call anytime.
The closures are part of a planned shut down of about 100 stores that the company previously announced in August 2016. As part of today's announcement, Macy’s said it will close 63 locations in early spring 2017 and another two mid-year.
Note: The closings are not because of a downtrend in the business cycle but rather sector related, which is being offset by booming online sales.
The full list of stores closing is here.