Business & Tech
Macy's To Shut Down 40 Locations By Next Spring, Reports Say
There are 28 Macy's locations throughout Pennsylvania, including several in the Philadelphia area.
By KAREN WALL and JUSTIN HEINZE
National department store chain Macy’s has announced it will close up to 40 of its stores nationwide by next spring, according to a report.
Fortune magazine reports the retailer will be closing the stores that generate less than 1 percent of company sales, with 35 to 40 stores out of 770 affected.
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The chain operates 28 stores in Pennsylvania, including several in the Philadelphia area: Ardmore, Bensalem, Exton, King of Prussia, North Wales, Willow Grove, two in Philadelphia.
The Ohio-based company has not finalized the list of closing locations, according to a report on NJ.com.
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The chain closed 14 stores earlier this year, including one at the Ledgewood Mall in Roxbury, NJ.com reported.
The company announced it will offer employees positions at nearby stores or provide severance benefits.
Macy’s high-end sister chain Bloomingdale’s will not be affected, according to the reports.
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