
the staff of the Ridgewood blog
Paramus NJ, Macy’s Inc. plans to close 125 department stores over the next three years, an admission that a fifth of its locations cannot thrive as shoppers buy more online and make fewer trips to malls.
Macy’s will reportedly plans to shut 125 stores over the next three years and slash about 2,000 corporate jobs. Earlier on Tuesday, Macy’s had confirmed with CNBC it was closing its tech offices in San Francisco, consolidating these operations in New York and Atlanta.
The department store chain plans to exit weaker shopping malls, and instead will shift its focus toward opening smaller-format stores in strip centers, according to a report in The Wall Street Journal.
Parking was not the issue Ridgewood
Time moves on for stores too
Every retail establishment everywhere where its merchandise is available online, IS DOOMED.