The entrance to a Macy’s department store.
Jeffrey Greenberg | Universal Images Group | Getty Images
Macy’s has notified the employees at about 45 of its department stores that they will close by the middle of this year, CNBC has learned.
The closures are part of a previously announced plan by Macy’s to shut 125 locations by 2023, which the retailer outlined last February.
“As previously announced, Macy’s is committed to rightsizing our store fleet by concentrating our existing retail locations in desirable and well-trafficked A and B malls,” a spokeswoman told CNBC in a statement.
“To that end, we announced several store closures today that align to the guidance we provided in February 2020,” she said. “These closures bring us closer to achieving the right mix of mall-based stores.”
Liquidation sales have already started at some locations, and the rest are slated to start later this month. A list of the roughly 45 locations could not immediately be obtained by CNBC.
Macy’s operates 544 of its namesake department stores, along with 34 Bloomingdale’s locations, 19 Bloomingdale’s outlets and 166 Bluemercury shops, according to its website.
This story is developing. Please check back for updates.
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This article originally appeared on www.cnbc.com
