Macy’s and Bloomingdale’s in Town Center at Boca Raton mall are NOT on the corporation’s hit list.
Macy’s Inc. plans to shutter “approximately 125 stores in lower tier malls within three years,” the company announced.
Here’s what shoppers in Boca can expect: “Among the remaining store fleet, the company is adjusting its staffing with reductions in some stores and increases in others.”
Town Center at Boca Raton cannot comment on behalf of its retailers, a spokesperson for mall ownership Simon Property Group said.
Here’s the link to a webcast of Macy’s investors day early Wednesday: https://www.macysinc.com/investors
Macy’s Inc. is scheduled to report fourth-quarter earnings on Feb. 25. The company will issue a webcast that day accessible to the general public.
The company also announced launching the next phase of Macy’s Star Rewards loyalty program later this month. “Macy’s will expand its growth treatment to the remaining store portfolio,” the announcement said.
“We have a clear vision of where Macy’s Inc and our brands Macy’s, Bloomingdale’s and Bluemercury fit into retail today,” chairman and CEO Jeff Gennette said in the statement. Macy’s headquarters will relocate from San Francisco to New York City.
The company reported its growing digital business across its brand generate more than $6 billion in sales.
“We will focus our resources on the healthy parts of our business and explore new revenue streams,” Gennette said in the announcement.
By Marci Shatzman