Is Macy’s In Sangertown Square Mall New Hartford, NY Closing?
The Macy's department stores may have announced a number of store closures in mid-2015 with expectations of more than 40 to close however, the list of stores was not finalized until now.
After what Macy's is reporting as weak holiday sales and citing a downturn in apparel demands in a recent press release, Macy's will be making additional closures.
Reuters is reporting that Macy's will be eliminating up to 4,800 jobs and 'consolidating operations. In addition to the Macy's store at the ShoppingTown Mall in DeWitt that was previously announced, the McKinley Mall stores in Buffalo, Arnot Mall store in Horsehead, Hudson Valley Mall store and the Eastern Hills Mall store in Williamsville will now be closing.
Out of the 40 stores that it will close or had closed, 36 of the stores will close early this spring. Macy's has cited that a growing number of consumers are refraining from buying discretionary items such as clothes and cosmetics while spending more on electronics, cars home goods and travel. Many analysts are calling it concerning news and what some are starting to call a "retail ice age."