MACY’S is expected to close a store next month – but customers can still take advantage of discounts.
Since the pandemic began in 2020, the clothing retailer has been busy closing stores.
A total of 80 branches have closed – another five are to be added by the end of the year.
A Macy’s location at Eagle Rock Plaza in Los Angeles, California, which has been open since 1973, will be part of the stats.
According to a report by The Eastsider, items are discounted by up to 40 percent.
Although the exact date has not yet been set, the store is scheduled to close at the end of September.
Cosmetics, fragrances and select vendors are restricted from final sale, according to an automated record of the Eagle Rock Plaza store phone number.
Returns were accepted until August 16th.
Location hours are listed as 11:00am to 8:00pm most days.
THE NEW STRATEGY
Macy’s move comes as the company experiments with a new strategy.
Specifically, the focus is on locations outside of the shopping center and smaller locations.
As reported by CNBC, the clothing retailer has opened ten stores in malls.
The new stores are called Bloomie’s and Market by Macy’s and are about 20 percent the size of traditional stores.
They will offer a narrower range of popular brands and the items in the store will rotate frequently to keep things up to date.
It plans to add five more of these stores this fiscal year — and one of those will be a Bloomie’s location in Seattle, Washington.
It’s not uncommon for retailers to close in the industry.
This could be due to the increase in online sales, which has led to lower demand for physical locations.
One of the biggest examples in the industry are Christmas Tree Shops.
The company went bankrupt earlier this year and closed the rest of its stores this month.
Former CTS parent company Bed Bath & Beyond also filed for bankruptcy this year.
All 360 locations and 120 Buybuy Baby stores are scheduled to close this summer.
Still, Bed Bath & Beyond exists as a brand thanks to a $21.5 million purchase from Overstock.
Macy’s rival, Old Navy, recently closed a location in Milwaukee, Wisconsin.
The closure follows Old Navy’s closure in Chicago’s Loop earlier this year.
As for CVS, it’s closing about 300 stores a year through 2024.
And the once-mighty Kmart will close its last New Jersey location this fall.