Macy’s is looking to close 45 company owned stores. The selected sites may close by the middle of 2021 and liquidation sales were already underway at some locations. Before the pandemic itself, Macy’s had a three-year Polaris plan that called for significant closures, predominantly in Tier C and D malls. The coronavirus pandemic swept the nation, but still Macy’s kept all doors open throughout 2020.
Following the pandemic, some parts of the Polaris plan were put on hold, The retailer had also tested the idea of “dark stores” to fulfill digital orders in October for the holiday season at two locations Littleton, Colo.’s Southwest Plaza and Dover Mall in Dover, Del.
Retailers typically conduct those reviews in the fourth quarter to see how the stores perform during the holidays. The company was reevaluating store closing plan, noting that decisions will depend on projected sales and a store’s four-wall profitability. As practice Store closure announcements usually follow in January.