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Macy`s set to close stores for more ecommerce business

Thursday 5 January 2017 | 10:00 AM CET

Macy`s is planning to close 68 stores out of 880 to cope with shrinking in-store sales, which means the elimination of 6,200 jobs.

Macy's previously announced plans to close around 100 stores in August 2016 in order to focus spending on its highest-growth-potential locations and new digital tech, reports.

Going forward, Macy's will work to align its in-store and online shopping experiences by allocating more funds – approximately USD 550 million – to its digital businesses and ongoing stores.

The changes in customers' shopping behaviours include a focus on buy online, pickup in store and mobile-enabled shopping.

Macy's revealed that its sales declined by 2.7% in November and December 2016 combined, compared to the same period in 2015.

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