Macy’s (New York) is set to shutter four more department stores in in the first quarter of 2023 as part of its ongoing Polaris transformation strategy, according to Retail Dive and several other news sources. The affected stores are in these malls:
- Baldwin Hills Crenshaw Plaza; Los Angeles
- Foothills Mall, Fort Collins, Colo.
- Windward Center, Kaneohe, Hawaii
- Lakeforest Mall, Gaithersburg, Md.
Macy’s, which also operates the Bloomingdale’s and Bluemercury flags, said in February 2020 that it expected to close around 125 stores – a fifth of its locations –as part of a three-year plan. That strategy includes “optimizing and repositioning” its store fleet to have a mix of mall and off-mall locations.
That includes opening of four off-mall/smaller format Market by Macy’s stores last year and its disclosure last week of plans to open its third smaller-format Bloomie’s store, in Seattle, after opening similar locales in Chicago and Virginia.