Macy's Announces 100 More Stores Will Close Nationwide

Macy's announced Thursday it will be closing about 100 of its stores nationwide. The closures will take place by early 2017.

Macy's says it will still have locations in 49 of the top 50 markets in the U.S. The company currently operates 728 stores.

The iconic retailer's announcement comes as the amount of shopping done online, rather than in brick and mortar stores, continues to increase. E-commerce giant Amazon has cut dramatically into traditional retailers' profits, including Twin Cities-based Target and Best Buy.

Macy's currently has 11 stores in Minnesota, with its largest location in the state at the Mall of America.

There's no word yet on which stores will close, so it's unknown which locations in the state will be affected.

A Macy's press release announcing the changes said locations of stores that are closing "will be announced at a later date, once the company makes final decisions."

Macy's will focus its resources on its highest-performing stores while pouring more into "online shopping and mobile apps," according to the press release. In stores that stay open, Macy's plans to add new vendors and increase the staffing.

The company is planning on "infusing new technology, accentuating high-potential businesses such as fine jewelry, and creating new in-store events and experiences," the release said.

"Customers nearly everywhere in America will have easy access to Macy’s stores, with the additional convenience and increased functionality of our dynamic digital offering,” Macy's President Jeff Gennette said in the press release.

Employees who work at stores that are closing will be offered positions at nearby stores "where possible," Macy's says, and eligible part- and full-time employees will receive severance benefits.

In September, Macy's announced that it would be closing 40 locations.

Similar fates have befallen other major retailers. Walmart is slated to close 154 U.S. stores this year and just announced a $3 billion deal to purchase Jet.com as it looks to improve its online retail presence.

Sports Authority is closing all of its nationwide stores as it wades through a Chapter 11 bankruptcy.

Target, Kmart, Sears, Kohl's and other major retailers have announced similar scale-backs.

Macy's was founded in 1858 when it opened four small department stores in Massachusetts.

The company is now an iconic brand in retail nationwide and sponsors the annual Thanksgiving Day Parade through Midtown Manhattan.

— Marc Torrence, Patch staff