Macy's To Close 5 Texas Stores By April

Austin TX

06 January, 2021

1:31 PM

Description

AUSTIN, TX — Officials at the department store chain Macy's on Wednesday announced a new round of store closures — including five stores slated to be shuttered in Texas. Macy's, Inc. which also runs Bloomingdale's and Bluemercury, identified 36 namesake stores and one Bloomingdale's expected to shutter by or before midyear, as USA Today reported. The company also listed nine stores that recently closed, the newspaper reported. Among the 30 additional stores slated for closure by the end of Macy's first quarter, which ends April 30, are five in Texas: The Golden Triangle location in Beaumont-Port Arthur.Post Oak Mall, College Station.Rivercenter, San Antonio.Rolling Oaks, San Antonio.Vista Ridge Mall, Lewisville. The closures are part of Macy's three-year plan to close one-fifth of its stores or roughly 125 locations first announced in February, USA Today reported. In September, Macy's Inc. Chairman and CEO Jeff Gennette said the timeline for permanent store closings could be adjusted as the company monitors the competition and the recovery from the pandemic. "Retail today has been disrupted," Gennette told analysts during the September quarterly earnings call, as quoted by the newspaper. "And while that disruption creates challenges, it also holds opportunity. With many competitors closing or struggling, we see the potential to bring new customers into our brands and gain market share." As of Oct. 31, Macy's Inc. had 764 total locations, including 544 Macy's locations, 54 Bloomingdales's including outlet stores and 166 Bluemercury stores, according to the report. Some liquidation sales have already begun, and most are expected to start this month and will run from eight to 12 weeks, USA Today reported.