Retail chains Macy’s and Kohl’s are set to shut down nearly 100 stores across the country, with the decision following several quarters of negative year-over-year revenue growth.
Macy’s is closing 66 stores across 22 states in an effort to “return the company to sustainable, profitable sales growth,” the retailer said in a Jan. 9 statement. Out of the 66 outlets, two have already been closed. A majority of the stores are expected to be closed during the first quarter of 2025. Meanwhile, Kohl’s announced plans to shutter 27 “underperforming stores” across 15 states by April.
