Macy’s Store Closings: A Predictable Outcome
The Wall Street Journal reports on today’s announcement of Macy’s store closings throughout the country:
Macy’s this morning announced the closing of 11 stores, a move that came after a rough holiday season. Macy’s also said Thursday that same-store sales for December fell 4%, amid what it called “the most challenging economic environment in memory.
Here’s a list of the 11 Macy’s stores that are slated to close.
The closures represent a small proportion of Macy’s 860 total stores. Nevertheless, barring a miracle of credit or influx of mall-hungry tourists, the move probably preempts more closures.
Where will all the mall rats go now?