Macy’s to Shutter 29 Additional Stores.

The Cincinnati retail giant Macy’s, which has struggled with falling sales for the past few years while experimenting with niche concept stores like the Backstage shops, has announced that after this past year’s lukewarm sales, especially during the holiday season just past, it is going to board up a total of 28 of its own stores and a single Bloomingdale’s as well. All this will happen by the end of February, leaving thousands of workers unemployed in the middle of a ferocious financial winter. The company has not provided any further details as to which stores will be closing, but most retail experts say that most of the targeted stores will probably be in moribund malls throughout the Midwest states of Nebraska, Iowa, Illinois, Indiana, and Ohio. East Coast outlets will probably be spared any bloodletting, employee-wise. 

This continues a pattern that began back in 2016, when the merchandising franchise closed down underperforming stores in a sudden move that took many retail experts by surprise. It was hoped that by decreasing the physical plant and employee overhead the company would be able to lower prices on specific goods that showed the most promise of profit — things such as fashionware, shoes, and electronics. But apparently the cuts were not deep enough, and so will continue to be made throughout 2020.