Macy’s Closing Additional Stores

Macy’s (Cincinnati) announced that it will be closing more stores than had previously been expected. The news comes in the wake of the retailer’s third-quarter results, which included a 5.2 percent decrease in revenue from last year down to $5.87 billion. The store’s stock fell 15.26 percent yesterday during the afternoon trading.

The retailer had already planned to close between 35 and 40 stores early next year. The retailer has not disclosed the exact number of stores or the stores’ locations that are slated to close in addition to those already publicized.

Still, the retailer continues in its plans to open new stores under its different brands including Macy’s Backstage and Bluemercury, reports Cincinnati Business Courier.