Macy's Closing Roughly 125 Stores And Moving HQ To NY

By Andrew McIntyre (February 4, 2020, 7:03 PM EST) -- Macy's is closing roughly 125 stores in underperforming malls over the course of the next three years and will make New York its sole headquarters, according to an announcement from the retailer on Tuesday.

The move comes as brick-and-mortar stores across the country are seeing slumping sales and reductions in foot traffic as shoppers continue to migrate away from physical stores, opting instead to make their purchases online. Same-day shipping has also accelerated the trend, since consumers now may only have to wait hours to have their purchases delivered.

Macy's said on Tuesday it would close stores in its "lower tier malls" and...

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