Your favorite department store, Macy’s, has made a shocking announcement that over 100 of its stores will be closing across the United States.
This news has left many West Coast shoppers surprised and saddened to see their beloved Macy’s locations shutting down.
Why is Macy’s closing stores?
Macy’s has revealed plans to close 150 stores nationwide over the next two years, with the iconic Macy’s location in San Francisco’s Union Square being one of them.
This flagship store has been a fixture in downtown San Francisco since 1929, making its closure all the more significant for local shoppers.
How many stores will Macy’s close?
The retail giant plans to shut down a total of 150 stores across the country within a two-year timeframe, as announced during an earnings call on February 27, 2024. The closures will be staggered, with 50 stores shutting down in the first year and the remaining 100 stores closing in the second year.
Who owns Macy’s?
Macy’s has undergone multiple ownership changes since its inception in 1858. Originally founded by Rowland Hussey Macy in New York City, the company was later acquired by the Strauss Brothers in 1895.
Following a bankruptcy in 1992, Federated Department Stores took over and eventually rebranded as Macy’s Inc. in 2007.
