What: In 2020, Macy’s management announced it would close 125 stores over 3 to 5 years. That same year, Macy’s closed 29 stores. In 2021, 45 stores were supposed to be closed, but only 38 were. Macy’s announced that 7 stores will be closed in 2022 (belonging to the 45 stores batch).

Why it is important: That leaves another 51 stores that are still to be closed of the 125 that were announced in 2020. But while the US is overstored, Walter Loeb doubts they will close any time soon since Jeff Gennette has indicated that the online business deteriorated If there was no physical store in the area.

These stores will eventually close but the question is when. Late announcements of store closings are a smart management strategy. After all, sharing such news too soon may prompt a loss of sales staff and disrupt the closing sales by their absence.

Macy’s to close more stores