Macy’s Closing More Stores

Macy's (Cincinnati, Ohio) has plans to close as many as 40 stores early next year. That number accounts for about 5 percent of the company’s retail stores. According to Crain’s Chicago Business, the closures are a way for the company to trim costs and boost its e-commerce operations.

While the locations of the stores that are slated to close have not been revealed yet, the company stated that the stores that close are underperforming and only total 1 percent of the company’s sales.

The company said employees at the stores that are closed may be offered positions at other nearby locations or offered severance benefits.