Disappointing holiday shopping numbers are forcing department store Macy’s to make sweeping changes nationwide. Sales fell 2.1% in November and December compared to last year’s numbers, which Macy’s executives is related to the always developing consumer behavior, as well as a reflection of the challenges facing the retail industry as a whole.
As a result of these loss of sales, 68 stores nationwide will be shut down, including 8 in Texas, and 2 in DFW. The stores that will close in North Texas will be at Dallas’ Southwest Center Mall and at Collin Creek Mall in Plano. The other six will be closed from the following: Parkdale, Beaumont; Sunland Park, El Paso; Greenspoint, Houston; West Oaks Mall, Houston; Pasadena Town Square, Pasadena; Broadway Square, Tyler.
3 of these stores have already been shut down, 63 will close in the spring, with the final 3 closing by the middle of 2017. Macy’s estimates some 3,900 employees will be affected by these closings. The store also has plans to restructure parts of its business, including selling some of its properties, which will lead to the loss of 6,200 more jobs. The company estimates it will save$550 million annually with these changes.
Macy’s has plans to invest some of the money saved into its ever-expanding digital business.
Via NBC DFW