METRO DETROIT, Mich. (PATCH) — Macy’s said Tuesday it plans to close 125 stores over the next three years, representing a fifth of the retail giant’s locations, according to a report. The news comes on the heels of a similar announcement made in January when the company said it would close at least 28 stores.
While it was unknown which locations will be shuttered in this latest round of closings, the news could impact one or several of the six Macy’s stores in Metro Detroit.
Macy’s officials told the Wall Street Journal the final list of locations could change based on market conditions and the performance of the malls where the stores are located.
The company also plans to cut jobs — approximately 2,000 corporate positions, or 10 percent of corporate and support staff — and close several offices. Among the closures will be the company’s second headquarters in Cincinnati, Ohio, along with a move to locate all headquarters roles in New York City.
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