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Macy's To Close 100 Stores

Macy's announced it would close approximately 100 stores by early 2017.
Macy's announced it would close approximately 100 stores by early 2017. Photo Credit: Matt Bultman

Department store giant Macy's announced it will close approximately 100 of its locations by early 2017, according to a statement released by the company.

The company said the stores where the real estate value exceeds the value of the retail output will be in line for closure.

“We operate in a fast-changing world, and our company is moving forward decisively to build further on Macy’s heritage as a preferred shopping destination for fashion, quality, value and convenience," Macy's chairman and CEO Terry J. Lundgren said in a statement. "This involves doing things differently and making tough decisions as we position ourselves to serve customers who have high expectations of their favorite stores, online sites and apps."

Macy's operates locations in Danbury, Stamford and Trumbull in Fairfield.

The locations of the 100 stores to be closed will be announced at a later date, once the company makes final decisions.

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